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Finsbury Food Group
- BY: Andrew Hore |
- POSTED: 23/01/2012 |
- COMMENTS: Add yours
Cakes and speciality bread maker Finsbury Food Group achieved sales of more than £100m in the six months to December 2011 but margins are coming under pressure from higher commodity prices.
Revenues grew 16% to £102m thanks to a combination of higher prices and volumes. UK cake sales were 10% ahead and the rest of the business grew 8%. The joint venture export business Lightbody Europe grew sales by 167%. The second half comparatives are tougher so growth rates will slow.
Efficiency improvements helped to offset higher input prices but the operating margin is slightly lower so far this year.
At 30p a share, Finsbury Food is valued at £16m.
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