26th Sep 2022 13:47
Finsbury Food Group PLC - Cardiff-based baker - In the 53 weeks to July 2, reports a pretax profit of GBP14.3 million, down from GBP17.0 million in the year ended June 26, 2021. Revenue rises to GBP356.8 million from GBP313.3 million, while costs of sales tick up to GBP241.2 million from GBP210.3 million. Notes this is a record revenue figure for the company in a year of "exceptional macroeconomic turbulence." Says the figures reflect the beneficial impact of the relaxing of Covid-19 restrictions. Recommends a final dividend of 1.67 pence per share, which would take the total dividend for the year to 2.50p. The previous year's payout was 2.4p. Looking forward, Finsbury expects macroeconomic and inflationary headwinds to persist. Adds it is "difficult to predict" how its new financial year will unfold.
Current stock price: 78.00 pence, down 0.6% on Monday afternoon in London
12-month change: down 17%
By Heather Rydings; [email protected]
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