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Finsbury Food half-yearly profit gets boost from UK bakery business performance, new business wins

By BFN News | 08:59 AM | Monday 24 February, 2020


Bakery company Finsbury Food reported a rise in half-yearly profit, underpinned by performance in its core UK bakery business and new business wins. For the 26 weeks ended 28 December 2019, pre-tax profit rose 17.9% to £8.8m on-year and revenue was up 4.7% to £159.4m with UK Bakery sales up 5.8%. Revenue and profit were 'largely driven by organic performance in UK bakery as well as new business wins and the first full six-month contribution from our "free from" business,' the company said. The interim dividend per share was increased by 6.0% to 1.23p a share. 'Notwithstanding the ongoing market-wide headwinds, there is positive sales momentum in the business and a growing number of exciting opportunities that gives us confidence in Finsbury's prospects for the full year, which remains in line with expectations,' the company said. At 8:59am: (LON:FIF) Finsbury Food Group PLC share price was +1.5p at 102p Story provided by StockMarketWire.com

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