The Real Good Food Company today (24 March) revealed that it returned to profit in the 12 months to 31 December, with earnings boosted by last years restructuring moves.
The company, which distributes sugar under the Napier Brown brand and manufactures bakery products for retail customers, said that sales slipped 1% to GBP215.6m (US$321.2m).
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However, the group was able to reverse last year’s pre-tax loss of GBP421,000 and post profits od GBP1.6m for the period.
According to chairman Pieter Totte, Real Good Food’s profitability was improved by its efforts to restructure the business.
“Since the restructuring, our various business units are organised in such a way that there is clear accountability and performance visibility, which gives management a much better view of how to structure their growth plans,” he said.
This, coupled with the stabilisation of the EU sugar market, meant that the company is well-placed to continue to boost profits in the year to come, Totte suggested.
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By GlobalData“The group is better placed than ever to plan for growth and improved profitability,” he said.
