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April 8, 2005

UK: Real Good Food Company reports loss

The Real Good Food Company, a UK manufacturer of chilled and ambient products for food retailers has announced a loss of £698,000 (US$1.3bn) for the 16 months to 31 December 2004.

The Real Good Food Company, a UK manufacturer of chilled and ambient products for food retailers has announced a loss of £698,000 (US$1.3bn) for the 16 months to 31 December 2004.

Turnover was £44.6m, including £28.8m from continuing operations and £15.8m generated by the acquisition of Five Star Fish. The company changed its reporting year to 31 December following the acquisition of Five Star Fish in May 2004. In the seven months to 31 August 2003 it made a loss of £226,000 on a turnover of £3.7m. The seven months includes two months trading, the company said.

“Sales growth has been driven by the bakery division (Haydens and Seriously Scrumptious) with new product launches, range extensions and new customer listings,” said chairman Pieter Totté. “The sandwich division’s (Coolfresh) turnover has, as expected, declined on the previous period due to the planned restructuring of the business.”

“Five Star Fish has more than met our expectations since its acquisition in May 2004 with sales levels up 10% on the prior year,” he said.

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