Finsbury cakes fall
Sales of celebration cakes continued to fall at Finsbury Food Group as consumers opted to trade down. Group revenue fell 4.1% to £168.3m for the financial year to 30 June 2010, while sales in its cake division were down 9.7% on the previous year. However, its bread and free-from division saw sales growth of 9.3%.
RGFC’s mixed bag
The Real Good Food Company bakery ingredients business Renshaw has seen continued growth, with sales up 14% year-on-year, reported the firm. Its Hayden’s Bakeries business saw overall sales up 20%, for the six months to 30 June 2010, but turnover at its sugar firm Napier Brown was affected by lower market prices for sugar.
Success for Lees
Lees Foods has achieved record sales in its Lees of Scotland and The Waverley Bakery firms, for the six months to June 2010. In its latest trading update, the firm revealed group sales were up 9%, to £9.62m. It expected pre-tax profits for the first half of 2010 to be well ahead of last year’s figure of £394,000.
Leaseholds for sale
Acting on behalf of private owners, Christie + Co is offering for sale the leasehold interests of two Mangetout sandwich bars in Liverpool, which have a combined asking price of £200,000. They are located on Old Hall Street and Castle Street, near the new Liverpool 1 Shopping Centre.
Food price inflation
Food price inflation rose to 2.5% in July, compared with 1.7% in June. The British Retail Consortium said the increase was driven by global factors, including production problems in large wheat-exporting countries, such as Russia and Canada, putting pressure on the cost of fresh food.