Finsbury Food Group has announced its total sales revenues reached £102m for the first half of the financial year, to 31 December 2011 – the first time he company has passed the £100m mark in a six-month period.
In a pre-close trading statement, the cake, bread and gluten-free bakery manufacturer said the “significant” rise in sales revenue represented organic growth of just over £14m, and a total revenue increase of 16% compared with the same period in 2010.
The group said each of its businesses experienced growth, with growth in its Cake business up 10% and its Bread and Free From arm up 8%.
Lightbody Europe, Finsbury’s 50%-owned joint venture export business, saw growth up 167%.
John Duffy, chief executive, said: “The group has reached an important milestone, with over £100m sales in the first half. This demonstrates our resilience and, more importantly, the quality and appeal of our product ranges with consumers.
He added that commodity inflation remained very high year-on-year, but that its management and staff were committed to its twin strategy of growth and continued investment in efficiency.