Significant sales growth at The Real Good Food Company’s morning goods and patisserie subsidiary Hayden’s has helped the firm achieve estimated pro-fits of around 25% above current market expectations.
Hayden’s Bakeries achieved double-digit growth with all its major customers, for the year ended 31 December, including Marks & Spencer, Waitrose and Costa Coffee, with overall sales up 15%. In its pre-close trading update, the firm revealed that a major investment plan is now being overseen by the management team to double the size of the business over the next four years. The division has also grown its foodservice sales, now accounting for almost 10% of revenues.
The firm announced record retail sales of sugar in 2009 in its ingredients business, renshaw-napier. Sugar sales to small industrial customers rose strongly in the second half of 2009, but bulk sugar sales reduced slightly, due to weakness in the market.