Liverpool-based Real Good Food Company has right ingredients for progress

by Neil Hodgson - 30/07/2010

"LIVERPOOL-based The Real Good Food Company is filled with “considerable confidence” ahead of its second half period."

The Crown Street company revealed that in the six months to June 30 its baking ingredients arm Renshaws and Hayden’s Bakeries operation continued their strong sales growth.

Strong exports and the growing popularity of home baking in the UK are behind a 14% year-on-year uplift in revenues for Renshaws.

And while lower prices hit overall sales at its Napier Brown sugar business, the firm said a tightening of supplies is expected to lead to a recovery in pricing levels at the start of the new contract season in October.

The six-month trading update also revealed a £1.5m cut in working capital and an 8% reduction in total group borrowings, which currently stand at £2.3m, compared with last year.

Announcing the update group chairman Pieter Totte said he was delighted that the group is starting to realise the full potential of its three businesses.

And he added that he expects even more progress during the second half of the financial year, saying: “We look forward to the seasonally- stronger second half with considerable confidence.”

More Details: http://www.liverpooldailypost.co.uk/ldpbusiness/business-local/2010/07/30/liverpool-based-real-good-food-company-has-right-ingredients-for-progress-92534-26960704/