FDBusiness.com

Finsbury Food Group Passes £100 Million Interim Sales Barrier

 Breaking News
  • Royal Unibrew Completes Acquisition of French Lemonade Business Royal Unibrew, the Denmark-based beverages group, has completed the acquisition of Etablissements Geyer Fréres for an enterprise value of DKr660 million (€88.5 million) financed by bank debt. The acquisition of Etablissements Geyer Fréres will give Royal Unibrew increased access to the French soft drinks market and will further strengthen its export portfolio. Employing about 100 [...]...
  • Private Label Outperforms FMCG Brands in Europe Private label continues to grow across Europe and is now outperforming brands in the majority of markets measured by big data and technology expert for consumer FMCG industries, IRI in its analysis of private label performance across eight major Western economies markets (UK, France, Germany, Greece, Italy, Spain, Netherlands and the US) during 2017. Growing +4% year on [...]...
  • Meat & Poultry – Future-proof For Success The meat market remains fast-moving and competitive. As part of this processors and retailers are always looking for a point of differentiation. As well as new product development, this can mean new pack formats. Convenience remains a major driver here but this has to be matched by the ability to maintain product quality and freshness [...]...
  • Ready Meals – Not Ready For the Future New research (1) published by Eating Better, a powerful alliance of more than 50 organisations, shows that supermarkets need to shake up their ready meal ranges. They are not catering for the growing number of flexitarian customers who are cutting back on their meat eating for their health and the health of the planet (2). [...]...
  • Top 100 Largest Spirits Brands Revealed The world’s most popular alcoholic drink in 2017 was the South Korean soju brand Jinro, owned by Hite-Jinro, according to the IWSR Real 100, the definitive ranking of the world’s largest spirits brands by volume. Selling almost 76m nine-litre cases, Jinro retains its number one position from last year, and once again by a staggering [...]...

Finsbury Food Group Passes £100 Million Interim Sales Barrier

Finsbury Food Group Passes £100 Million Interim Sales Barrier
January 26
17:37 2012

Finsbury Food Group, a leading UK manufacturer of cake, bread and gluten free bakery goods, has increased first half sales revenues to £102 million, passing the £100 million in six months milestone for the first time. This represents organic growth of just over £14 million and an increase of 16% compared with the prior year.

The group experienced growth across each of its businesses. Both the group’s UK Cake and Bread and Free From businesses saw strong growth of 10% and 8% respectively. The combination of these businesses accounted for just over half the total group growth. Lightbody Europe, the group’s 50% owned joint venture export business, provided the balance with growth of 167%.

John Duffy, chief executive of Finsbury Food Group.

The trading environment remains very tough, with the challenges of a financially squeezed shopper, and stubbornly high commodity and input price inflation. However, Finsbury is continuing to invest in each of its businesses to further improve operating efficiencies, and drive growth through innovation to mitigate against these headwinds.

The high first half growth, delivered through both volume and price rises, complemented the group’s efficiency initiatives to largely offset year on year commodity inflation, although the operating margin percentage was slightly lower than prior year as a consequence.

Chief executive John Duffy comments: “Commodity inflation remains very high year on year and this continues to depress our already low operating margins. It is hard to forecast any improvement in this in the short term, however management and staff are committed to deliver on our twin strategy of growth and continued efficiency investment to ensure our continued success in this difficult market place.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements