Posting its interim results today (30 March), UK food group Finsbury Food reported a 12% increase in first half profit before tax and exceptional items. The company was upbeat about its future prospects, and reaffirmed its focus on the premium cake and bread sectors.
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The group posted profits of GBP1.27m for the period to the end of December, up from GBP1.13m reported for the comparable period of the previous year.
Turnover up 32% to GBP43.43m from GBP 32.82m last year, Finsbury said, while gross margin remains strong at 39%.
“The first six months of our year to June 2007 have seen good progress in our strategy to lead the growth in the premium sectors of both the cake and bread markets. Trends show that consumers continue to increasingly demand premium products,” CEO Dave Brooks said.
“Our group is strongly positioned in the growing premium sectors of its markets,” he concluded.
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By GlobalDataFinsbury shares rose 0.53% following the results release, increasing to a value of 332.5 pence at 2.40pm (GMT).
