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Epic & Msn data
Epic FIF
Time: 16:30:08
Mid Price: 22.50
Change Today: 0.00
Change % Today: 0.00
Fifty Two Week High: 33.00
Fifty Two Week Low: 12.50
Market Capital: 11.85
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Now: 22.50
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Additional information
Additional Information
Market: AIM
Sector: Food Producers
Epic: FIF
News: Latest news
Web Site: Finsbury Food Group
Other Articles: 26-11-200818-09-200726-06-2006

Finsbury Food Group

Finsbury Foods manufactures and distributes baked goods into the food retail sector of the United Kingdom through eight subsidiaries.

 

Wednesday, November 25, 2009

Finsbury Foods’ premium range cake sales continue to be impacted by recession

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Finsbury Food Group (AIM: FIF) (“Finsbury”), a manufacturer of cake, bread and morning goods, released a brief trading update for the first 17 weeks of the current financial year ending 30 June 2010, ahead of its AGM today. In the statement, the company reported an 11% increase in sales from its Bread and Free From business units, but investors didn’t take well to a 6% decline (in value) of sales in the company’s cake business


“As a result, revenue for the Group has fallen year on year with sales for the 17 weeks to the end of October 2% behind the corresponding period last year, 4% behind on a like for like basis excluding Goswell,” the company added.


Overall, Finsbury stated that it continued to make gains in efficiency, customer service and product quality.


"Consumer behaviour is still being affected by the recession and premium range sales have been impacted in the short term,” John Duffy, Chief Executive of Finsbury commented.  “The economic environment remains challenging and uncertainty around input price inflation remains high.  We continue to focus on integrating our businesses to improve efficiency and operating margins whilst gaining an improved understanding of our consumers."

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