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Finsbury Food Group (FIF)

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Finsbury Food H1 sales rise thanks to diversification strategy

18 Jan 18

LONDON (ShareCast) - (ShareCast News) - AIM-listed cake manufacturer Finsbury Food said on Thursday that it performed in line with management expectations in the six months to 30 December thanks to its diversification strategy.
Total group sales, including the discontinued Grain D'Or business, were up 0.7% compared to the same period a year ago at 157.8m. Excluding Grain D'Or, sales were up 2.5% to 144.8m, with the UK bakery division growing 32% and the overseas segment - which it owns 50% of - falling by 2.1%.

"This demonstrates the positive impact of the group's strategic diversification. These businesses now represent the group's core operations on entering the second half of the group's financial year and notably, this growth was achieved even with a slightly reduced range of Christmas products.

"The board has built the group into a diverse multi-channel speciality bakery group. Following the exceptional growth and diversification over the prior years, the business is well placed to maintain its position, despite the market conditions. As such, the board believes it is well equipped to continue to deliver growth and improved shareholder value over the coming years."

At 1045 GMT, the shares were down 0.1% to 111.40p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Market Data

Currency UK Pounds
Price 100.50p
Change Today 0.000p
52 Week High 104.00p
52 Week Low 60.00p
Volume 100,636
Shares Issued 130.38m
Market Cap 131.04m


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