Finsbury Food Group (AIM: FIF) trading update reassures although trading outlook remains uncertain
The speciality bakery manufacturer of cake, bread and morning goods issued a reassuring update on trading for the first four months of the new financial year, although there was a somewhat cautious outlook statement.
Total Group sales revenues grew to £102m during the first four months, an increase of 78.1% on prior year. While that sounds meteoric organic growth was a more modest £5.8m, but still an increase of 10.1% over prior year. The UK Bakery division grew by 8.7% and the Overseas division, the Group’s 50% owned European business, grew by 19.4%.
In October 2015 the Group celebrated the first anniversary of the Fletchers acquisition, which is…
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