The Real Good Food Company (RGFC) has achieved a 24% increase in ebitda, to £10.5m, in the full year to 31 March 2013.
Revenue also increased, from £258.5m to £265.7m, while net borrowings were down by £3.5m, to £25m.
The firm put the ebitda rise down to significant increases at its patisserie and desserts business Haydens and its bakery ingredients arm R&W Scott.
Pieter Totté, executive chairman, said: “I am delighted to be able to report on a year of steady progress by the group, when we achieved a significant increase in earnings despite only recording a modest increase in overall revenue.
“We continued to invest in the development of our five businesses, but were still able to reduce total borrowings and secured new financing facilities for future expansion.”
Totté said the firm was actively working to increase the volume of its sugar sourcing, with a new site at Stallingborough, next to the deep sea port of Immingham, able to receive bulk sugar, quality-check and transfer it into road tankers for onward distribution.
“Meanwhile, in conjunction with our partner Omnicane, we continue to look at opportunities for long-term, sustainable supply arrangements, not only in Mauritius, but also on the African continent,” he added.
The firm also noted that three businesses in particular had been investing in their brands: Napier Brown (with Whitworths), Renshaw and R&W Scott. In all cases a formal review was undertaken and a new brand vision developed, alongside consumer research and product development.
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