Real Good Food has reported strong single digit revenue growth for the financial year ending 31 March 2020, driven by progress at cake decorating business JF Renshaw and food ingredients operation Brighter Foods.
During what it described as a ‘period of transition’, the group delivered adjusted earnings before interest, taxes and amortisation (EBITDA) of £3.3m, against £1.9m in the previous year. Revenue increased by 8.1%, from £61.6m to £66.6m.
Real Good Food now constitutes two main divisions, Cake Decoration (trading under the brand names of Renshaw and Rainbow Dust Colours) and Food Ingredients (trading as Brighter Foods). The two divisions were profitable and generated an adjusted EBITDA of £6.8m before central costs.
By Jerome Smail2020-12-16T16:47:00+00:00
Source: Real Good Food
Renshaw and Brighter Foods owner Real Good Food (RGF) has reported improved trading in the third quarter of the financial year.
However, with the easing of lockdown restrictions after the first quarter, sales recovered to align with board expectations, according to the company’s latest trading update.
RGF has reported a “significantly improved” operating structure within cake decorations, with a focus on “strengthening customer relationships, enhancing customer service and growing sales through new product launches and category expansion”.
The company says it has successfully launched over 40 new products since the start of the financial year, generating over £2m of sales on an annualised basis.
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