19th Nov 2020 14:38
Finsbury Food Group PLC - Cardiff-based cake and bread baker - Says sales in first four months of the new financial year - July to October - have recovered "significantly", down just 3.4% on the same period a year ago.
"This continues the strong progressive improvement since the initial lockdown in March 2020, where post lockdown actual sales in the final quarter were 18.9% lower than the equivalent period the year before," says Finsbury.
Says improvement driven by a strong retail channel performance, which was partially offset by weaker trading in UK foodservice. Confident that, as long as the public sector and take-away channels remain open, its current foodservice performance will remain "robust".
"Given the strong trading and wider operational performance in the first four months of the new financial year, and assuming that an effective Brexit deal can be reached, the board expects to deliver further sales and profit growth in the current financial year," says Finsbury.
Current stock price: 69.00 pence
Year-to-date change: down 30%
By Lucy Heming;Â [email protected]
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