Finsbury Food Group booked an increase in first-half sales this morning (23 January), driven by a “strong” performance from its bread and free-from division.
The UK baker said sales revenues were “in line” with management expectations, rising to GBP103.3m (US$163.8m) from GBP102m in the comparable period of last year.
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The company saw its bread and free-from division sales rise by 7% while cake revenues were up 2%. These gains were partially offset by declining sales at Lightbody Europe, Finsbury’s 50%-owned European business. Lightbody sales dropped 17% on unfavourable currency exchange.
While consumers “remain under considerable pressure” management said the group remained “confident” of delivering growth and efficiency opportunities in the second-half of the year.
