|
ACR handles permanent, contract, interim and temporary full and part-time jobs across a wide cross-section of business sectors including HR...
Morrisons are the UK's 5th largest food manufacturer - which just goes to show how truly committed we are to delivering the freshest, daily...
Jarvis Johnson are one of the leading providers of permanent recruitment and interim management services to the Food Manufacturing industry...
Recruitment Specialists for the Food Industry... placing people first
We specialise in recruiting highly skilled...
Blue Spark - your first port of call for well thought out recruitment and business solutions for the food & drinks industry...
|
Bakery ingredients group Real Good Food Company sees fortunes rise
by Neil Hodgson - 21/09/2011
"BAKERY ingredients firm The Real Good Food Company reported a rise in sales and profits for the six months to June 30."
The Toxteth-based group said all four of its divisions made “substantial progress” as turnover grew from £90.7m to £109.8m, while pre-tax profits of £1.15m compared with a loss of £1.11m last time.
Real Good Food comprises Napier Brown, the largest independent non-refining distributor of sugar in Europe, dairy ingredients supplier Garrett, bakery ingredients arm Renshaw and sweet bakery products manufacturer Haydens.
Chairman Pieter Totté said today: “I am very pleased by the progress we have made during the first half, particularly as we have had to contend with increased commodity costs and challenges in the sourcing of sugar supplies.
“Despite this, we have achieved growth in all our businesses.”
He added: “Looking forward, we are expecting net debt to reduce by the end of the year as we generate cash in our key trading period.
“After a three year period in which our trading performance has been over-shadowed by the impact of EU sugar reforms, we are now more in control of our destiny.”
He said the challenges of sugar supply, together with commodity price increases, meant the group had to secure extra stocks for Renshaw and Napier Brown which led to an increase in working capital from £32.7m to £39.7m.
However, he said the group expects an easing in the situation in the fourth quarter, and reassured shareholders that the business remains well within its banking terms.
Renshaw has seen an increase in business due to the popularity of home baking, as the cup cake craze continues.
It has introduced a range of branded products and is now planning to embark on international expansion following the appointment of a new head of international business development, Simon Mortimer, to develop and implement a strategy to build on its recent success.
Mr Totté said: “We have the people and the products to make considerable further progress and I, therefore, look to the group’s future with growing confidence.”
More Details: http://www.liverpooldailypost.co.uk/ldpbusiness/business-local/2011/09/20/bakery-ingredients-group-real-good-food-company-sees-fortunes-rise-92534-29454024/
|
