Finsbury prelims reveal strong growth
25 September, 2008
All-round bakery manufacturer Finsbury Foods’ has experienced a group revenue increase of 53.9% to £169 million. The preliminary results for the year ended 30 June 2008 show the company has achieved strong growth in each of its subsidiaries with like for like sales up 13%. Adjusted pre-tax profit stood at £7.7 million compared to £4.6 million last year.
Dave Brooks, who steps down as chief executive with effect from 29 September, said it had been “a year of achievement” for Finsbury, despite inflationary pressures, with highlights including the acquisition of Yorkshire Farm Bakeries and A&P Foods to form Livwell Ltd and the transfer of the California Cakes Ltd operation to the Hamilton site of the Lightbody Group in July 2007. It is also a year that saw United Central Bakeries Ltd return to full operation following a fire in October 2006.