FDBusiness.com

Finsbury Sustains Interim Profit Despite Fall in Sales

 Breaking News
  • Nestlé Inaugurates New Nescafé Dolce Gusto Production in Vietnam Nestlé has inaugurated a new Nescafé Dolce Gusto capsule production line in Dong Nai Province, Vietnam. The site will process an expected 2,500 tons of coffee per year (equivalent to 130 million capsules), using high quality coffee beans from Vietnam. This volume is expected to increase in the coming years. The investment reflects Nestlé’s clear focus on high-growth, [...]...
  • Pink Lemonade Yogurt? Arla Brings Indulgence to New Markets Arla Foods is to expand its successful Finnish brand, Ihana, into new markets with the premium yogurt range being launched in Denmark and the UK. Meaning ‘wonderful’ in Finnish, Ihana was launched through an extensive brand launch in 2016 in Finland with an iconic new design. Indulgence is one of the few areas in growth within [...]...
  • Process Components Announces Kemutec Expansion into Netherlands Process Components has announced the expansion of subsidiary company Kemutec in Europe, with the long-established manufacturing brand opening a new office in the Netherlands. The move forms a key part of its global strategy to extend its global territories, significantly grow its revenues and create new jobs. Kemutec has more than three decades’ worth of heritage in [...]...
  • Packaging Automation Supports the Reduction in Plastic Packaging Waste With the launch of the UK Plastics Pact to address the impact plastic waste is having on the environment, retailers and manufacturers are more conscious of single use and non-recyclable plastics and want to cater for the green consumer. The industry is turning to various kinds of eco-friendly packaging with the aim of reducing plastic [...]...
  • Glanbia Cheese Joint Venture to Build New €130 Million Mozzarella Cheese Facility Glanbia Cheese, the joint venture business between Glanbia plc and Leprino Foods, plans to build a new, world-class mozzarella cheese manufacturing facility in Portlaoise, County Laois, Ireland. A site for the new facility has been identified at the recently established Togher National Industrial Estate in Portlaoise. A total of €130 million will be invested in [...]...

Finsbury Sustains Interim Profit Despite Fall in Sales

Finsbury Sustains Interim Profit Despite Fall in Sales
March 25
12:51 2011

UK baker Finsbury Food Group has reported a 7% fall in revenue to £82.9m and flat pre-tax profit of £1.8m for the 26 weeks to January 2nd 2010. Finsbury is the second largest player within the £1.5b UK cake market and the market leader in the supply of gluten free baked goods to multiple grocers.

Trading during the first half was impacted by consumers trading down and more frequently choosing promotional product offerings. Finsbury has been seeking to offset the impact of this trading environment through organic growth elsewhere in the business, improving efficiencies and managing volatile input costs.

Despite these recessionary effects, the group’s Bread and Free From division, boosted by the Goswell acquisition and the growth of its free from offering, increased like for like sales by 14% to £17.6m. The total cake market continued to decline over the period and this impacted Finsbury’s Cake division, due to its bias towards premium and healthier cakes. Sales for the Cake division fell 8% on a like for like basis to £65.3m.

“Given our craft bakery and premium product bias, we have worked hard in the current climate to invest in organic growth opportunities for the group whilst continuing to drive greater operating efficiencies,” says chief executive John Duffy. “The change in consumer behaviour may still be some time in coming, but we believe the group has coped well in delivering a sustained level of profitability in difficult market conditions and will emerge stronger as the economy picks up.”

About Author

colin

colin

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