Trading figures from Big Food Group suggest there could be light at the end of the tunnel for chief executive Bill Grimsey who earlier this month saw the company's shares hit their lowest point in five years. Easter adjusted figures for the six weeks to May 10 show BFG's like-for-like sales up 2.2% ­ still well behind the competition, said City commentators, but a "significant improvement" on the dismal March figures. Like-for-like sales at Woodwards foodservice shot up 11.8%, with Booker up 3% and Iceland up 0.1%. Schroder Salomon Smith Barney said the figures suggested Grimsey's strategy was starting to pay off: "These figures represent a significant improvement." The trading statement accompanied details of BFG's plans to raise £300m through a new debt facility with Barclays Capital and RBOS, £150m from the issue and sale of high yield bonds and £129m from selling the freehold of 31 properties to AXA. Shares rallied, reflecting relief BFG has resolved its funding problem and steered clear of an unpopular rights issue, said analysts. Big Food Group said it would release more details about four new retail formats Iceland was testing at the full-year results on May 30. {{NEWS }}