27th Apr 2006 07:00
Finsbury Food Group PLC27 April 2006 Date: 27th April 2006On behalf of: Finsbury Food Group plc ("Finsbury" or "the Group")Embargoed until: 0700hrs Finsbury Food Group plcTrading Update Finsbury Food Group Plc, a leading manufacturer of premium cakes, low fat slicesand speciality organic and gluten free breads, is today hosting a site visit foranalysts to the Scottish businesses (California Cake, Campbells Cakes and UnitedCentral Bakeries) which were acquired in November 2005. During the visit, theattendees will be updated on the recent trading performance of the Group. The Board expects that the Group's profit before tax and exceptional items forthe year to June 2006 is likely to exceed current market forecasts. The first three months of 2006 have seen excellent operational performance ineach Bakery, which has been supported by strong overhead cost control. This has been particularly evident in Memory Lane Cakes, our subsidiary whichaccounts for over half the Group's turnover. This strong Christmas performancehas continued through Easter. In addition, the £1 million small cake line hasbeen successfully installed, and these products are now being supplied into twomajor multiple grocers. The Hot Cross Bun program at Nicholas & Harris was the biggest ever delivered bythat subsidiary, with sales of over £1.1 million in the period leading up toEaster. The range was delivered to plan, and the business is now embarking upona launch program of innovative speciality breads and rolls with a number of theGroup's key customers. Despite the strong recent trading of the Group, current market conditions remainchallenging. The Board is confident that the Group's products are in the rightniche areas of the market. In addition, with our strong management teams whichare in place and our flexible business model, the Board remain positive aboutthe future. Commenting, Chief Executive Dave Brooks, said: "The customer base and market conditions remain challenging. However, themanagement teams in each of our subsidiaries have worked tirelessly with theirwhole workforce to keep driving our mission to be "The Best at What We Do". Ourcontinuing focus on quality, service, innovation, and maintaining ourcompetitive edge, has served the enlarged Group well over the last six months,and I am delighted with the recent performance. We will be working hard tomaintain these standards in a very competitive marketplace and are confident weare in the right product areas, with strong management, and flexible businesses.The Board remains positive about the future." - ENDS - For further information: Finsbury Food Group Plcwww.finsburyfoods.co.uk Dave Brooks (Chief Executive) 07831 787 382John Lomer (Finance Director) 0777 888 9977 Redleaf CommunicationsEmma Kane/Miranda Good/Sanna Lehtinen 020 7955 1410 • Publication quality photographs are available via Redleaf Communications on the numbers shown above This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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