Storage group Norish has reported pre-tax losses of £800,000 for the first half of this year, compared with a £400,000 profit at the same stage last year. This figure includes £700,000 of restructuring costs. An unchanged interim dividend of 1.27 cent is being declared.
Turnover fell 4%, with its commodity division affected by the loss of business from a major coffee retailer.
Norish says its cold storage division performed well, but rates are still too low because of overcapacity in the industry.
The company says it is suffering from higher insurance costs and the trading environment remains difficult.
Norish says it has reached agreement in principle to dispose of its Liverpool property at book value of £300,000.
