Finsbury fights off difficult trading environment to grow sales

By Aidan Fortune contact

- Last updated on GMT

Finsbury Food Group grew sales in the second half of 2018
Finsbury Food Group grew sales in the second half of 2018
Speciality bakery product manufacturer Finsbury Food Group has weathered what it described as a “difficult trading environment” to see a modest growth in sales.

In a trading update for the six months to 31 December, the manufacturer of cake, bread and morning goods for the retail and foodservice channels, reported that like-for-like total group sales revenue was up 0.5% year-on-year to £145.5m.

Its total group revenue declined 3.5% to £152.3m, but some of this was attributed to the loss seen from bakeries that closed during the first half of 2018.

Finsbury’s biggest growth driver came from its UK bakery division, which grew by 1.7%, achieved despite a “difficult macro environment with sustained inflationary pressure”​ while sales at the group’s overseas division declined by 8% year-on-year.

It added that the integration of Finsbury’s recent acquisition, Ultrapharm​, was continuing to progress and additional capacity would be delivered by the end of the existing fiscal year.

Looking ahead, Finsbury said that despite the market conditions, it was well placed to continue to drive efficiency, deliver innovation and maintain its leading position in the market.

Related topics: Bakery, Cereals and bakery preparations

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