UK sugar-to-dessert group Real Good Food Co said it is on track to meet market expectations for the current year after a “strong” start to the first-quarter.
In a trading update ahead of the firm’s annual general meeting today (13 September), chairman Pieter Totté said the current year had “begun well”, with a “strong” first quarter and that it was embarking on a period of expansion to “transform the scale of the group over the next three years”.
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At Napier Brown, the firm’s non-refining sugar distribution unit, the company is focusing on multi-sourcing, and offering customers alternatives to the EU beet refiners, in addition to further security in the supply chain.
“Our investment this year in sugar handling facilities will enable us to cost-effectively supply sugar sourced worldwide and meeting all the required technical standards,” Totte said. “Our new strategic partnership with Mauritius-based Omnicane, which now has a 20% shareholding in the group, significantly boosts our ability to source the sugar we need.”
Meanwhile, the group said its Garrett Ingredients unit “continues to develop well” as a stand-alone business from Napier Brown and is currently “seeking new dairy sources in Europe while broadening its product offering”.
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