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Sales Down at The Real Good Food Company

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Sales Down at The Real Good Food Company

March 30
14:11 2011

With its Napier Brown sugar distribution business recording an operating loss, The Real Good Food Company has reported flat group EBITDA of £5.5m for the year ended December 31st 2010 on turnover down by 7% to £200.1m, due to the reduced EU intervention price for sugar. Profit before taxation and significant items increased from £2.15m to £2.34m and net debt was reduced by £1.5m to £24.1m during the year.

Peter Totte, chairman of The Real Good Food Company.

In addition to owning Napier Brown, which is the largest independent non-refining distributor of sugar in Europe, The Real Good Food Company is also a supplier of dairy ingredients (through its Garrett Ingredients business subsidairy), bakery ingredients (Renshaw) and a manufacturer of sweet bakery products (Haydens Bakeries) for a range of major retail customers.

Pieter Totte, chairman of The Real Good Food Company, comments: “All four businesses have made substantial progress during the year; Napier Brown has come through the difficult years of the EU sugar regime changes and is now well positioned with its supply arrangements to play an important role in the UK market; Garrett’s has been relaunched as a standalone business and has quickly and successfully embarked on a growth strategy; Renshaw has delivered remarkably strong growth ahead of expectations both in the UK and export while Haydens has continued to grow its sales while also progressing its restructuring plan.”

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