Finsbury celebrates 78.1% revenue increase

Finsbury Foods, the retail and foodservice bakery group, has reported UK bakery revenue growth of 8.7% for the first four months of its financial year.

Total group sales revenue increased 78.1% on the prior year to £102m. This included organic growth of £5.8m, representing a rise of 10.1%.

The company has been boosted by several recent, large acquisitions. In October, it celebrated the first anniversary of its £56m purchase of the Fletchers Group of Bakeries and, in June of this year, it bought Scottish foodservice cake-producer Johnstone’s Just Desserts.

In a statement, Finsbury Foods said: “The group continues investing in the business which includes an increased focus on capital expenditure enabling the directors to maximise sales, efficiency and productivity opportunities across all businesses.

“While consumer confidence has improved, the economic and trading outlook remains uncertain and we anticipate that the Fletchers and Johnstone's acquisitions will drive the majority of the group’s growth in this financial year. The board believes our larger, more diversified speciality bakery group is a strong multi-channel business, well equipped to deliver growth and improved shareholder value over the coming years.”

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