Finsbury Food Group saw its group revenue increase 8% for the last financial year, the UK cake maker said today (30 July).
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In an update ahead of its close period, Finsbury said the “full year” effect of the businesses acquired in the 2008 financial year account for 5% of the growth.
Around 1% comes from the current fiscal year lasting 53 weeks, rather than 52 weeks.
Over the past year, Finsbury has completed a number of acquisitions, including the transformational Lightbody Group deal, as well as the Anthony Alan, Yorkshire Farm Bakery, A&P Foods and Goswell Enterprises.
Sales in the company’s bread and free-from division experienced like-for-like growth of 14%.
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By GlobalDataThe group’s cake division experienced 2% growth in absolute terms versus the prior year. On a like-for-like basis however, sales were flat, continuing the first half trend.
Chief executive Martin Lightbody said: “I am pleased to be able to report growth in revenue despite the recessionary environment in which we have operated and during what can only be described as a difficult trading period for the group and a transitional year for a number of our operating subsidiaries.”
