The UK’s Real Good Food Company has said first-half group sales from continuing operations increased by 85% to £20.2m (US$37.1m) and normalised operating profits rose by £2.0m from a loss of £1.2m in the comparative period.
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The company said the first six months of 2005 had been an exceptionally busy time for the group. Haydens Bakeries’ sales were up by 17% on the prior year with the business making a profit compared to a year-earlier loss. Five Star Fish continued delivery of strong organic growth with proforma sales up 13% and profits of £1.6m.
Other goings on in the first half included the relocation of Seriously Scrumptious to the Devizes factory and subsequent production halt at the Glastonbury plant, the acquisition of Napier Brown, and the closure of the company’s loss making Sandwich division, following an aborted acquisition in the sandwich sector.
“In accordance with our expectations, the company has made significant progress in both financial and strategic terms in this period. Our two main operating divisions are both showing double digit sales growth with improved margins. In addition, the acquisition of Napier Brown, completed in late August, now provides the enlarged group with critical mass and moves us closer to our stated strategic intent of building a focused food group servicing the retail, industrial and foodservice sectors,” Real Good Food said.
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By GlobalData
