|
ACR handles permanent, contract, interim and temporary full and part-time jobs across a wide cross-section of business sectors including HR...
Goodman Fielder New Zealand is one of the largest branded food manufacturers and suppliers in New Zealand, serving customer needs with a portfolio...
Almarai is the world’s largest vertically integrated Dairy Foods company with a 2009 turnover exceeding $US 1...
Be Personnel was created to offer both clients and candidates a personal, professional & effective recruitment and job search service that meets...
Blue Spark - your first port of call for well thought out recruitment and business solutions for the food & drinks industry...
|
Real Good Food defies 'sugar rush'
by Chris Barry - 29/03/2011
"REAL Good Food Company, the North West ingredients, sugars and cake supplier, has hailed a strong annual performance."
The Liverpool-based group overcame turbulence in the sugar sector - which knocked revenues in its largest subsidiary, Napier Brown, from £134.8m to £108.4m - to increase profits and cut debt.
Profits rose from £2.15m to £2.34m, while ebitda was flat at £5.6m.
Total group sales in 2010 fell 7% to £200.1m as a result of the reduced EU intervention price for sugar - which affected Napier Brown.
There was growth in all the other parts of the business - the dairy ingredients business Garretts up from £24.7m to £25.5m; in baking ingredients supplier Renshaws, from £34.9m to £42.7m, and in Haydens which supplies cakes and desserts, from £21m to £23.3m.
Chairman Pieter Totté said: ""All four businesses have made substantial progress during the year; Napier Brown has come through the difficult years of the EU sugar regime changes and is now well positioned with its supply arrangements to play an important role in the UK market.
"Garrett's has been relaunched as a stand-alone business and has quickly and successfully embarked on a growth strategy; Renshaw has delivered remarkably strong growth ahead of expectations both in the UK and export while Haydens has continued to grow its sales while also progressing its restructuring plan."
In line with its strategy to reduce gearing, Real Good Food reduced net debt to £22.6m from £24.1m.
Looking ahead Mr Totté said all four units are at 'exciting stages of their development', with strong strong management teams.
"The group is well placed to deliver further improvements in sales and profitability," he added.
More Details: http://www.thebusinessdesk.com/northwest/news/147340-real-good-food-defies-sugar-rush.html?news_section=54016
|
