Finsbury Food Group PLC Pre-Close Trading Statement and Notice of Results (6180L)
14 Gennaio 2021 - 8:00AM
UK Regulatory
TIDMFIF
RNS Number : 6180L
Finsbury Food Group PLC
14 January 2021
Date: 14 January 2021
On behalf Finsbury Food Group plc ('Finsbury', 'the Company' or
of: 'the Group')
For immediate release
Finsbury Food Group plc
Pre-Close Trading Statement and Notice of Results
Finsbury Food Group plc (AIM: FIF), a leading UK speciality
bakery manufacturer of cake, bread and morning goods for both the
retail and foodservice channels, announces an update on trading for
the six months ended 26 December 2020 ("H1").
The Group delivered a resilient trading performance against a
continued challenging backdrop with total sales of GBP152.9m in H1,
representing only a 4.1% decrease against a strong comparative
period in 2019. This continues the strong progressive improvement
since the initial lockdown in March 2020, where post lockdown
actual sales from March to June, the final quarter of the 2020
financial year, were 18.9% lower than the equivalent period the
year before.
This performance was driven by a positive retail channel
performance (+1.7%) in the Group's core UK Bakery division and
Overseas (+0.6%), offset by the expected weaker trading in UK
foodservice (-27.4%), which continues to be impacted by Government
restrictions tightening over the last few months.
Continued strong cash generation and the previously referenced
actions to control cash and costs across the Group have resulted in
further debt reduction with period end net bank debt of GBP21.5m,
down GBP5.0m from the year end.
Notwithstanding the challenges that remain as a result of the
pandemic, given the Group's resilient performance in the first
half, the ongoing operational improvement initiatives, and
especially the avoidance of a no deal Brexit outcome, the Board
remains confident in delivering a full year performance in line
with expectations.
Notice of results
The Group will announce its Interim Results, for the six months
ended 26 December 2020, on Monday 22 February 2021.
Analysts wishing to attend the webinar should contact Alma PR
via finsbury@almapr.co.uk.
Contact:
Finsbury Food Group
John Duffy (Chief Executive)
Steve Boyd (Finance
Director) www.finsburyfoods.co.uk 029 20 357 500
Panmure Gordon
Oliver Cardigan (Corporate
Finance)
Atholl Tweedie
Joanna Langley
Erik Anderson (Corporate
Broking) 020 7886 2500
Alma PR
Rebecca Sanders-Hewett
Sam Modlin
David Ison finsbury@almapr.co.uk 020 3405 0205
Notes to editors:
-- Finsbury Food Group Plc (AIM: FIF) is a leading UK
manufacturer of cake and bread bakery goods, supplying a broad
range of blue chip customers within both the grocery retail and
'out of home eating' foodservice sectors including major multiples
and leading foodservice providers.
-- The Company is one of the largest speciality bakery groups in
the UK and, with its Overseas division, has sales in the financial
year ending 27 June 2020 exceeding GBP306m.
-- The Company's bakery product range is comprehensive and includes:
-- Large premium and celebration cakes.
-- Small snacking cake formats such as cake slices and bites.
-- Artisan, healthy lifestyle and organic breads through to
rolls, muffins (sweet and savoury) and morning pastries, all of
which are available both fresh and frozen dependent on customer
channel requirements.
-- Gluten Free bread, morning goods and cake ranges.
-- The Company is one of the largest ambient cake manufacturers
in the UK, a market valued at over GBP964 million (source: IRI 52
w/e 5th December 2020). The retail bread and morning goods market
has a value of GBP5 billion (source: Kantar Worldpanel 52 w/e 27th
December 2020). The retail Free From cake market is valued at GBP52
million (source: Kantar Worldpanel 52 w/e 27th December 2020). The
retail Free From bread & morning goods market is valued at
GBP146 million (source: Kantar Worldpanel 52 w/e 27th December
2020). The UK Out of Home Foodservice Bakery sector is worth
approximately GBP740bn per annum (source: UK foodservice data
derived from MCA data for 52 weeks to 31st March 2020).The Company
comprises a core UK Bakery division and an Overseas division:
-- The UK Bakery division has manufacturing sites in Cardiff,
East Kilbride, Hamilton, Salisbury, Sheffield, Manchester, and
Pontypool.
-- The Overseas division comprises the Company's 50% owned
company, Lightbody Stretz Ltd, which supplies and distributes the
Group's UK-manufactured products and third party products,
primarily to Europe, and the Company's manufacturing facilities in
Rybarzowice and Zywiec in Poland.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTEAPFDFESFEFA
(END) Dow Jones Newswires
January 14, 2021 02:00 ET (07:00 GMT)
Grafico Azioni Finsbury Food (LSE:FIF)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Finsbury Food (LSE:FIF)
Storico
Da Apr 2023 a Apr 2024