Finsbury maintains growth in cake sales

first_imgFinsbury Food Group has posted a 12.6% increase in group revenue in its preliminary results for the year to 2 July 2011, aided by the return to growth of its cake division.The manufacturer of cake, bread and morning goods saw adjusted profit before tax up 8.3% to £5.8m. Group revenue stood at £189.6m.Sales in its cake division increased 12.1% over the financial period to £139.6m, while its bread and free-from sales continued to see a good rate growth, with sales up 14.2% to £50m.The firm said the increased revenue within bread and free-from had come from its investment in the Vogels brand, as well as the ongoing growth of its fresh free-from range of both Genius branded products and own-label.The past financial year has seen Finsbury add Disney small cakes to its licensed portfolio, and the expansion of the Genius range of free-from products to include pies and sausage rolls.CEO John Duffy said Finsbury had succeeded in returning to organic growth – “an important milestone for the group” – but added the difficulties it faced, from the price rises in global commodities, should not be underestimated.last_img read more