25th Nov 2015 08:43
LONDON (Alliance News) - Finsbury Food Group PLC on Wednesday said strong trading has continued into its new financial year, with revenue rising in the first four months.
Finsbury, which makes cakes and bakery goods, said total sales in the four months since June 27 grew by over three quarters to GBP102 million, with the UK bakery division growing 9% and the overseas division growing 19%.
It said it is continuing to invest in the business to maximise sales, efficiency and productivity.
"Whilst consumer confidence has improved, the economic and trading outlook remains uncertain and we anticipate that the Fletchers and Johnstone's acquisitions will drive the majority of the group's growth in this financial year," Finsbury said in a statement.
The company bought bread supplier Fletchers in October 2014 and cake maker Johnstone's Just Desserts in June 2015.
"The board believes our larger, more diversified speciality bakery group is a strong multi-channel business, well equipped to deliver growth and improved shareholder value over the coming years," Finsbury added.
Shares in Finsbury were trading up 0.2% at 105.25 pence Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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