Finsbury Food Group
As the pressures of weak consumer spending continues and major UK retailers embark on a promotional war to win shoppers, the lowly loaf of b...
With spring in the air, food makers in Europe and the US seemed in buoyant mood this week. Finland’s Fazer Group claimed “more confidence” i...
UK cake maker Finsbury Food Group has focused on improving efficiency in order to offset lower sales and higher costs, while also increasing its investment in product development and marketing, the group's MD and chief executive told just-food this afternoon (23 March).
With just a month left of 2009, our thoughts are turning to what shape the food industry landscape will take as we enter a new decade. This week, HJ Heinz, meat giant Tyson Foods and Russian dairy business Wimm-Bill-Dann all issues their prognosis for the economy and consumer confidence. Woolworths Ltd, Australia's largest retailer, claimed the country was in better shape than other economies around the world, while in an exclusive interview with just-food, Greencore boss Patrick Coveney detailed how the private-label group had navigated the downturn.
Unsurprisingly, Tesco, the UK's largest retailer has remained vocal in its opposition to plans for stronger checks on retail expansion, while Wal-Mart-owned Asda, its nearest rival in the country, has backed the proposals. Marks and Spencer, a UK retailer that suffered during the recession, struck an upbeat tone on its food business this week, while Finsbury Food Group, a key private-label bakery supplier, saw its shares slide after its profits slumped.
Finsbury Food Group, the UK cake maker, has thrived despite soaring commodity costs and growing concern among consumers over following a more balanced diet. Chief executive Dave Brooks told Dean Best about the reasons behind the success of the business and why he believes Finsbury is well-placed to grow despite an ever-more turbulent operating environment.
Finsbury Food Group CEO John Duffy today (10 October) described the company's move to buy fellow UK bakery company Fletchers Group as "transformational", telling just-food the deal will help his business grow in a number of ways.
Earlier this year UK baker Finsbury Food Group offloaded its gluten-free bread business to venture partner Genius Foods. However, Finsbury, which makes cakes for brands under licence and for UK retailers, still sees potential in bread and today announced plans to significantly increase capacity. Michelle Russell spoke to CEO John Duffy.
UK cake and bread maker Finsbury Food Group has reported increased sales revenue of nearly 25% for the full financial year ended 2 July in a pre-close trading statement released today (19 July).
Finsbury Food Group, the UK baker, has reported improved half-year results, boosted by the recent acquisitions of Fletchers Group and Johnstone's but also from the benefit of underlying growth.
Finsbury Food Group said this morning (15 January) its first-half revenue increased by almost 50%, including the contribution of a "strong" performance over Christmas.
Ahead of the climate talks in Paris, Unilever announced plans to be carbon positive from its operations by 2030. Elsewhere, there was more consolidation in the US food sector, with Pinnacle Foods moving for Boulder Brands. Tyson Foods, Post Holdings and Greencore all had annual results out in the week. Maple Leaf Foods outlined plans to "streamline" its business, which is set to lead to the loss of 400 staff. Here is the week in quotes.
Finsbury Food Group, the UK bakery products maker, said today (25 November) its "strong trading" had continued into its new financial year.
Former Peanut Corporation of America CEO Stewart Parnell was this week sentenced to 28 years in jail over a fatal salmonella outbreak in the US seven years ago, prompting debate over how different outbreaks are viewed. In Russia, the country's deputy PM said Moscow would ban the use of GMOs in food production. And ConAgra Foods CEO Sean Connolly explained the company's approach to its brands after seeing some progress in recent weeks.
UK cake maker Finsbury Food Group has pointed to more acquisitions and organic growth to drive its growth strategy after posting a jump in full-year profits and sales.
Finsbury Food Group has launched Thorntons Little Temptations, a line of cake bites, in the UK.
Chinese food group Beingmate and Yurun Food this week issued profit warnings as the economic slowdown in the country takes its toll on food makers. In the UK, Hilton Food Group was hampered by the strength of sterling but, on a more upbeat note, UK cake maker Finsbury Food Group said it will "outperform" expectations. Here are this week's results in brief.
UK cake maker Finsbury Food Group has entered into an agreement to acquire foodservice supplier Johnstone's Just Desserts from administrators FRP Advisory.
UK cake supplier Finsbury Food Group has announced an increase in half-year profits, helped by last year's acquisition of local peer Fletchers Bakery Group and by higher underlying sales.
UK baker Finsbury Food Group has reported a jump in half-year revenue, helped by its acquisition of local peer Fletchers and by sales over Christmas.
Finsbury Food Group said today (26 November) a "strong" performance from its domestic cake business had boosted sales, offsetting falling revenues outside the UK.
just-food reported direct from the annual IGD industry convention in London this week, with a leading light in the grocery retail sector ruffling a few feathers with comments about manufacturers and retailers. Elsewhere, China's Bright Food made its latest deal in Europe, with the acquisition of Filippo Berio olive oil owner Salov and we interviewed the CEO of Finsbury Food Group after the UK baker announced a move for local peer Fletchers Group.
Finsbury Food Group has struck a deal to buy fellow UK bakery company Fletchers Group from private-equity firm Vision Capital for GBP56m.
UK cake maker Finsbury Food Group has booked a slight increase in annual profits despite posting lower sales.
Finsbury Food Group expects to beat City expectations for annual profits thanks to an improvement in sales in the second half of the year and the impact of cost cuts.
UK cake maker Finsbury Food Group has appointed Peter Baker, a former executive at companies including Maple Leaf Foods and RHM, as its chairman.
Finsbury Food Group has booked an increase in first-half profits, which were boosted by the disposal of the group's free-from business and subsequent restructuring efforts.
Finsbury Food Group, the UK baker, has more than doubled its full-year earnings, boosted by the sale of its free-from business earlier this year.
Finsbury Food Group, the UK baker, has said it expect profits to be "significantly" ahead of expectations for its full-year.
The story of the week centred around China's probe into the alleged fixing of infant formula prices in China, an investigation that has taken in the likes of Nestle and Danone. Elsewhere, consumer goods giant PZ Cussons has decided to move further into food with its acquisition of Australian baby food business Rafferty's Garden. And our latest executive interviews included Australian free-from business Freedom Foods Group and UK baker Finsbury Food Group.
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