Profit squeeze

Pioneer Foods disappointed shareholders yesterday when it reported that rising fuel and raw material costs took a bite out of the group's profit margin for the financial year. Those costs squeezed the group's operating profit margin from 7.1percent to 5.8percent. Good news for consumers however, is that according to the group, food price increases are likely to slow next year. Pioneer Foods operates through Sasko, Bokomo Foods, Ceres and its Agri business. - Tamlyn Stewart

Pioneer Foods disappointed shareholders yesterday when it reported that rising fuel and raw material costs took a bite out of the group's profit margin for the financial year. Those costs squeezed the group's operating profit margin from 7.1percent to 5.8percent. Good news for consumers however, is that according to the group, food price increases are likely to slow next year. Pioneer Foods operates through Sasko, Bokomo Foods, Ceres and its Agri business. - Tamlyn Stewart

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