London / UK. (rgf) The Real Good Food Company PLC reported a 58 percent rise in pre-tax profit to 2,15 million GBP from 0,9 million GBP for the year to December, helped by an improved operating performance in its Bakery Ingredients and Bakery divisions. Total group sales were down one percent to 215,6 million GBP from 218,7 million GBP, due mainly to a weak market for bulk sugar sales leading up to the final phase of EU Sugar Regime changes. Sales improved in retail and specialist sugars, however. The bakery ingredients business, Renshaw, benefited from a resurgence of home baking and crafting. Hayden´s, the bakery division, achieved double-digit growth in sales to all three of its major customers – Marks + Spencer, Waitrose and Costa Coffee. Overall sales were up by 15 percent. Food service sales, which started in 2008, grew steadily and now account for almost ten percent of total revenues. Earnings per share were 0,013 GBP, against a 2008 loss of 0,017 GBP. The company said net cash from operating activities was 8,6 million GBP versus a 3,1 million GBP deficit in 2008. Net debt was reduced to 24,1 million GBP from 31,4 million GBP, with a reduction in net bank borrowings to 20,9 million GBP from 27,9 million GBP.
Info: Preliminary Results Part 1 – Preliminary Results Part 2
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Greggs: announces new National Distribution Centre
- Greencore: announces H1-2024 trading update
- Orkla ASA: reports strong profit improvement in Q2-2024
- Cloetta AB: announces Q2-2024 interim report
- Axfood AB: Reports Q2-2024 Financial Results
- Chef Robotics: Launches AI-Powered Food Robot
- Conagra Brands: Reports Fourth Quarter 2024 Results
- Limerston Capital sells Village Bakery to Groupe Menissez
- GrubMarket: Buys Major Foodservice Company in Texas
- Lantmännen acquires Entrack AB
- DPC Dash: Concludes H1-2024 with Sustained Expansion
- Norway: Orkla Food Ingredients acquires FDE
- Fondo Italiano d’Investimento co-invests in Casa della Piada
- Greggs: invests in a new frozen manufacturing and logistics site
- Bundeskartellamt imposes fine against «Fritz!» manufacturer AVM
- Yum China: Celebrates Opening of its 200th KCoffee Store
- Beijing intends to roll out 5’400 food production robots
- K-Citymarket: sees significant sales growth in Finland
- DPC Dash: reaches 900-store milestone in China
- Coffee Holding: Terminates Merger with Delta Corp Holdings