Brunner Mond Further Losses Announced

Brunner Mond suffered an almost 50% worsening in losses in 2000, despite a far-reaching cost-cutting programme. Brunner Mond announced losses of £15.2m after tax compared with a £10.3m deficit in 1999. Greater losses came in despite of an operating profit of £7.9m on sales revenue of £148.4m to 30 June 2000. The company, which also has operations in Holland, Kenya and South Africa, made interest payments of nearly £20m. During 1999, the company cut over 130 jobs in the UK as part of a 2 year programme to save more than £9m. Company officials warned that further cost-reductions may be necessary if the soda ash market fails to improve.