BFP Big Food Grp.

RNS Number:0054G
Big Food Group PLC
10 January 2003


                                                                 10 January 2003


                              THE BIG FOOD GROUP PLC

                         Third Quarter Trading Statement

Introduction

The Company announces today its third quarter trading statement of the 2002/03
reporting year in respect of the thirteen weeks to 27 December 2002 and for the
important 5 week Christmas trading period to 3 January 2003.

Overall, the Board is encouraged by the progress being made despite the more
challenging trading environment.  In particular, trading at Iceland is on an
improving trend, the Iceland re-furbished stores continue to achieve good sales
uplifts and gross margins have increased year on year across all Divisions.

Sales

Like for like sales for the thirteen week period to 27 December 2002 and 5 weeks
to 3 January 2003 were as follows:


                                            Thirteen                   Five
                                              Weeks                    weeks
                                                %                        %

Group                                       -  2.9                   -  2.8
Booker                                      -  2.8                   -  3.5
- tobacco                                   -  6.1                   -  7.7
- non tobacco                               -  0.4                   -  0.6
Woodward                                    +10.3                    +11.6
Iceland Foods                               -  3.6                   -  2.1

At Iceland, the progressive development of our promotional strategy has, since
early November, been supported by better focussed advertising and marketing
activity.  As a result, like for like sales for the quarter have shown an
improved trend from the -7.7% for the 13 weeks to 27 September reported on 9
October to -3.6% over the 3rd quarter and -2.1% over the important Christmas
trading period. Volumes of products sold were higher in the Christmas period
than in the same period last year. Gross margins have continued to be robust as
the improved sales trend has gathered momentum.

The Iceland store re-fit programme continues with the completion of 16 more
re-fits and the opening of 4 new concept stores.  This brings to 30 the number
of stores trading in the new formats.

Like for like sales at the original four new format stores have achieved uplifts
averaging 11.9%.  The average uplift for all 24 new format re-fits is 12.6%.
Excluding the freezer centre format, which requires a different approach, these
figures are 17.6% and 15.9% respectively which will give the Company its planned
return on investment.  This substantial uplift in sales provides confidence in
the customer appeal of the new formats and the company intends to carry out its
roll-out programme from 2003/04 onwards.  Initially, this will cover around 100
stores per annum.

At Booker non-tobacco sales generally held up well against better prior year
comparatives with gross margins making good progress in most product categories.
Sales however were weaker in December. Low margin tobacco sales to CTNs and
forecourts have declined with evidence of increased consumption of non UK duty
paid tobacco following the change in import controls.

Woodward Foodservice continued its strong like for like sales performance.

Net Debt

Average net debt for the period 18 June to 27 December was #270 million.  As
expected, the increase over the quarter reflects the step up in capital
investment activity.

Commenting on this statement, Chief Executive Bill Grimsey said: "This quarter
has seen a significant change in Iceland sales performance and good progress
with the new format store programme.  We are pleased with the margins being
achieved and the momentum across the business as profitability continues to
improve."

Enquiries:

The Big Food Group
Bill Grimsey - Chief Executive
Bill Hoskins - Finance Director
David Sawday - Public Relations

020 7796 4133 on 10 January 2003 only
thereafter tel: 01933 371 148

Hudson Sandler
Andrew Hayes
Noemie de Andia
Tel: 020 7796 4133


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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