UK food ingredients and desserts supplier Real Good Food Co. has booked an increased in first-half profits, driven by brand development and sales growth.
For the six months to the end of December, the company recorded a net profit of GBP3.3m (US$2.3m), it reported today (20 March), a 34.5% increase on the prior-year period.
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Operating profit rose 29% to GBP5m. Before significant items, operating profit increased 31.8% to reach GBP5.3m. The figures were boosted by sales growth and a focus on value-added activities, the company said.
Sales in the period amounted to GBP139.2m, a 27% increase on the prior-year period.
Executive chairman Pieter Totté said the company is “extremely pleased” that the progress it has made is reflected in “a significant improvement” in its financial performance during 2011.
“With trading starting positively in January, and divisional management achieving further progress in their improvement programmes, I am confident of meeting our expectations for 2012, and of remaining on track to achieve our aspiration of doubling the size of the business within three years,” Totte said.
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By GlobalDataLooking ahead, the company said it continues to pursue its strategy of creating “solid sustainable profitability” based on self-help initiatives including brand development, sales growth and risk management.
