A Rocky Road TGI Fridays traybake manufactured by Finsbury Food Group
Finsbury Food Group is on track to deliver at least £15m profit before tax for the current financial year, it revealed in its latest trading update.
The business, which specialises in the manufacture of cake, bread and morning goods for retail and foodservice channels, said the figure is ahead of current market expectations.
This strong trading, in a period that has been impacted by Covid-19, has been driven by improving volume performance, it said. The business has also benefited from an ‘operating brilliance programme’ which Finsbury said has resulted in ‘improved line efficiency and lower waste’ across its bakeries. Its seven sites in the UK are located in Cardiff, East Kilbride, Hamilton, Salisbury, Sheffield, Manchester, and Pontypool.
The Company will invest in a combination of large, medium and smaller companies listed in the UK. We are not constrained by the weightings of any index; we focus instead on controlling absolute risk by diversifying on the basis of underlying company characteristics such as size, industry, economic sensitivity, clients and management. In normal circumstances up to half the portfolio will be invested in FTSE 100 companies; the remainder will be divided between small- and medium-sized companies. On occasions the Manager will buy shares listed overseas. The Manager may also invest a maximum of 15% in other listed trusts. It is a pleasure to report that, after a period of disappointing performance, the portfolio bounced back in the first half of the year, with NAV increasing by 33.0% against the benchmark s 18.5%. The previous financial year had started hopefully, only for those hopes to be dashed in March 2020 by the effects of the pandemi
City snapshot: Surging retail sales drive double digit profit and revenue rise at Cranswick thegrocer.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thegrocer.co.uk Daily Mail and Mail on Sunday newspapers.
By Alec Mattinson2021-04-30T08:06:00+01:00
Top story
Nestlé has boosted its presence in the global nutrition and supplement market with the US$5.75bn acquisition of The Bountiful Company.
The company confirmed it has entered into an agreement with private equity investor KKR to buy the core brands of The Bountiful Company, which is says in the number one pure-play leader in its “highly attractive” sector.
The transaction includes the high-growth brands Nature’s Bounty, Solgar, Osteo Bi-Flex and Puritan’s Pride as well as the company’s US private label business.
These brands will be integrated into Nestlé Health Science, creating a global leader in vitamins, minerals and nutritional supplements.
Finsbury, Krispy Kreme and Gü debut new bakery products bakeryinfo.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bakeryinfo.co.uk Daily Mail and Mail on Sunday newspapers.