Finsbury Food’s Cake division has returned to growth following declining revenues last year. It has seen "organic growth" of 2.5% year-on-year, reported the firm in its latest trading update for the first 17 weeks of the year to 30 June 2011.
At the cake, bread and gluten-free bakery manufacturer’s annual general meeting on 30 November, it said the growth within Cake was particularly significant in light of the increased promotional activity it had invested in, as the wider cake market remained flat.
Its Bread and Free-From division has grown 12.3% yoy, driven by the introduction of new gluten-free bread ranges, while group revenue has increased year-on-year, with like-for-like sales for the 17-week period up 4.9% on the comparable period last year.
The firm added that recent cost-saving initiatives have enabled Finsbury to take advantage of growth opportunities.