Real Good Food Co., the UK sugar, bakery and ingredients company, has said that trading conditions across all of its divisions have become more challenging than anticipated.
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In its pre-close statement ahead of the publication of its full-year results, the company said it expected 2007 normalised pre-tax profits to be at least GBP6m (US$11.9m).
Stephen Heslop, named as managing director in September, is leading a review of each of the divisions.
Real Good Food Co.’s executive team will be strengthened at the start of January by the appointment of Tony Sharpe as head of the bakery ingredients division. Sharpe was formerly managing director of spirits group G&J Greenall.
Real Good Food added that the proceeds from the sale of its Five Star Fish division in June, together with positive operational cash flow, had enabled it to reduce group debt “significantly”.
