Finsbury Food Group reports 95% increase in pre-tax profits at interim stage

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Finsbury Food Group, a leading UK speciality bakery manufacturer of cake, bread and morning goods for the retail and foodservice channels, has reported a 95% increase in pre-tax profits to £4.1m for the six months ended 27 December 2014. The interim results includes two months of trading from the Fletchers Group which was acquired on 30 October 2014.

Group sales increased 24.1% to  £107.6m up 24.1% and by 5.6% on a like-for-like basis.

The Group is now one of the largest speciality bakery groups in the UK with annualised revenues of approximately £270m.

The acquisition of Fletchers Bakery Group gives Finsbury a broader spread of customers across food retail and food service channels in cake, bread and morning goods businesses

John Duffy, chief executive of Finsbury Food Group, said: “I am pleased to report the significant progress of the Group. Over the period we have seen a strategic shift, becoming more diversified in terms of products and customers, as well as evolving into one of the largest speciality bakery groups in the UK.

“We have seen notable growth, both organically and through the Fletchers acquisition, which is integrating well. We look forward to the remainder of the year with confidence and, despite a tough trading environment, we believe the Group is in a strong position to deliver on our growth strategy.”