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Stability to aid The Real Good Food Company
by Alex Turner, - 01/10/2009
"THERE was no icing on the cake of The Real Good Food Company’s half-year results this morning as it announced a pre-tax loss of £1.19m."
Sales at the Liverpool-based bakery, ingredients and sugar group fell 2.2% to £101.7m in the six months to June 30, with difficult trading in its sugar division more than wiping out small gains elsewhere.
But there was a note of optimism as the company highlighted “welcome signs of stability” in its markets after turbulence caused by changes to the EU sugar regime, high raw materials and fuel prices and a fiercely competitive market-place.
Earlier this year the group combined Liverpool-based bakery ingredients business Renshaw and Yorkshire-based sugar supplier Napier Brown into a new business called Renshawnapier, which is now managed from Renshaw’s base in Crown Street, Toxteth.
In a statement to the stock market, The Real Good Food Company chairman Pieter Totté was positive the group would soon see the benefits of the restructure.
“Our core sugar trading business has experienced three years of difficult trading, I can report that overall we feel that our group is starting to turn the corner and we look with more confidence towards the future,” he said.
“With further stability expected in the sugar market, improved profitability in both ingredients and bakery, we remain quietly confident regarding the remainder of the year as we move into our busiest seasonal period.”
More Details: http://www.liverpoolecho.co.uk/liverpool-news/business-news/2009/09/29/stability-to-aid-the-real-good-food-company-100252-24806977/
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