UPDATE: UK: Real Good Food Co. invests in brand strategy
Whitworths brand "hits the shelves"
The Real Good Food Co expects increased investments in brand development to deliver strengthened results, despite booking a dip in profits earlier today (13 November).
In the six months to 30 September, profit dropped to GBP1m, down from GBP1.2m in the comparable period of last year. Sales rose to GBP137.8m, compared to GBP128.2m last year.
A spokesperson for the company told just-food the fall in profitability was "entirely" the result of increased investment, which rose by GBP0.5m in the period.
"We have increased investment levels to reflect our change of strategy [which is] to move to become a branded business," the spokesperson said.
Initially, Real Good Food Co. is focused on developing its Whitworths Sugar, Renshaw and R&W Scott brands. "This is paying off. R&W Scott and Whitworths Sugar are both now on the shelves," the spokesperson emphasised.
- Focus: Danone CEO Faber puts stamp on business
- Cleaning up Tesco will have mixed supplier impact
- The just-food interview: Doux CEO Arnaud Marion
- 2015 preview: A better deal for M&A sellers
- Interview part 2: BRF CFO Augusto Ribeiro
- General Mills outlines "aggressive" NPD drive
- Coles supplier payments broke competition law
- Lay's heads "billionaire food brands" list
- PepsiCo opens snacks plant in Saudi Arabia
- Wessanen to buy dairy-free drinks firm Abafoods