The Real Good Food Co. has posted a profit for the first six months of the year and an increase in sales.
For the period ended 30 September, net income rose to GBP9.8m (US$14.9m) from a loss of GBP5.6m. Last year's loss came from higher losses on continued operations as well as higher cost of sales while sales overall were lower.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The completion of the sale of its Napier Brown sugar business delivered an exceptional profit of GBP9.4m in the period.
Operating income grew to GBP1.1m compared with a profit of GBP93,000.
Revenues were up to GBP46.6m from GBP45.5m. Though sales were flat in its foodservice arm and down in its ingredient business against the same period last year, Real Good Food posted an increase in operating profit of its jam and sauces business R&W Scott. This came despite volumes being lower which the firm said reflected its strategy of improving sales mix and innovating the business toward added value accounts and new products.
Its European business saw an increase in operating profit also. The company said in the second half it would look to grow across Europe with a particular focus on Germany.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
