Finsbury Food Group H1 profits up
Finsbury Foods saw a rise in sales of its UK bakery business and overseas
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.
In the six months ended 27 December, Finsbury's net profit hit GBP2.1m (US$3.1m) compared with GBP1.6m. Operating profit was GBP4.5m against GBP2.6m a year earlier.
Sales increased to GBP107.6m versus GBP86.6m year-on-year. Finsbury's top line was boosted by the purchase of Fletchers but the company also reported a 5.6% rise in like-for-like sales.
Revenue from both Finsbury's UK bakery and overseas segments were up.
"The group delivered a strong performance over the first half. This was due to the successful delivery of our twin organic growth and efficiency led capital investment strategy, which together resulted in improved operating margins," Finsbury said.
Click here for the full results.
- Unilever 2016 investor day - the top takeaways
- Have food promotions reached tipping point?
- Mondelez goes beyond certified cocoa - analysis
- How Tyson's new CEO plans to grow the meat group
- The key questions for digital strategists in 2017
- Nestle unveils process to cut sugar by 40%
- Unilever sets new margin target with help from ZBB
- Unilever focuses on "value" of spreads arm
- Putin 'wants embargo to run as long as possible'
- McCormick to buy flavours business Enrico Giotti