FDBusiness.com

Solid Performance By Finsbury Food Group

 Breaking News
  • UK Grocery Prices Rising at Fastest Rate in Four Years The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 5 November 2017, show UK supermarket sales have increased in value by 3.2% year-on-year in the run up to Christmas. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, explains: “Volume sales have increased by less than 1%, meaning it’s [...]...
  • Alcohol Minimum Unit Pricing to Go Ahead in Scotland The UK Supreme Court has ruled that minimum unit pricing for alcohol, which was passed overwhelmingly by the Scottish Parliament in 2012, can now proceed. Scottish Health Secretary Shona Robison has welcomed the decision and confirmed she intends to make a statement to Parliament shortly, setting out the Scottish Government’s next steps. Following the unequivocal backing [...]...
  • GEA Brings Together Technologies to Supply Extended Production Line For BMI GEA has recently been selected to supply an extended pasta filata cheese production line for BMI in Jessen, Germany. With this exemplary project GEA brings together its joint cheese-making expertise, resulting from its acquisition of de Klokslag and CMT in 2014 and 2015 respectively, with GEA’s flow and processing experience to provide a single offering for this [...]...
  • Bosch Packaging Technology Wins German Design Award 2018 The Sigpack VPF (Vertical Platform for Flat Pouches), the first freely scalable flat pouch machine from Bosch, has been honoured with the German Design Award 2018 in the Excellent Product Design category. The German Design Council presents the prestigious award on an annual basis. The German Design Award is the second prestigious accolade for the [...]...
  • Premier Foods Returns to Revenue Growth Premier Foods, the UK convenience food group, has reported group revenue of £353.3 million for the 26 weeks ended 30 September 2017 – an increase of 1.5% on the prior period – with Branded revenue in line with last year at £295.4 million while Non-branded revenue increased by 10.1% to £57.9 million. Group reported half year [...]...

Solid Performance By Finsbury Food Group

Solid Performance By Finsbury Food Group
September 28
10:41 2011

Helped by a return to growth in its cake division, UK bakery company Finsbury Food Group has increased revenue by 12.6% to £189.6 million and underlying profit before tax by 8.3% to £5.8 million for the year ended July 2nd 2011. Sales in the cake division rose 12.1% to £139.6 million and sales in the bread and free from division advanced 14.2% to £50.0 million. Finsbury Food Group also managed to reduce net debt by 10.4% to £32.7 million.

 

Escalating commodity prices for sugar, flour and butter impacted on operating margins but this was largely offset by rising sales together with savings from efficiency projects.

 

John Duffy, chief executive of Finsbury Food Group.

”We are pleased to have returned to organic growth, an important milestone for the group,” comments John Duffy, chief executive of Finsbury Food Group. “We are emerging from a complex and exhaustive programme of reorganisation and despite the macro economic factors continuing to buffet the business and our customers, our structured approach has clearly started to bear fruit. The difficulties we face should not be underestimated, the global commodities bubble has exerted unprecedented pressure on margins. Prices for butter, sugar and wheat have soared over the last 18 months. Keeping things affordable for customers is essential.”

 

He adds: “I am delighted that we have succeeded in steering the group through another demanding year. The reality is that testing times still lie in wait. However, our distinctive range of products, commitment to value and robust performance in a testing climate bode well for the challenge ahead.”

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements