Baxters Food Group has booked a £675,000 loss for the 2017 year to April after booking £9.5 million in exceptional items and £12 million in finance costs.
The group said one-off costs were racked up launching a new customer own brand business in the US, restructuring its operations in Canada and Australia and cutting headcount across the European business.
Revenue in the 12-month 2017 year rose 19 per cent to £296.7 million, with UK revenue up 4.5 per cent at £84.3 million and international revenue up 26 per cent to £212.3 million.
Baxters acquired US military food ration business Wornick Foods in October 2014 in an £87.5 million deal, which had helped lift group pre-tax profits to £4.6 million in the 10-months to April 2016.
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