FDBusiness.com

Finsbury Food Group, a leading UK manufacturer of cake, bread and gluten free bakery goods, has broken through the £200 million turnover barrier for the year ended 30 June 2012. The group achieved strong organic sales growth across both of its businesses. Total group sales of £207 million for the full year were up 9.4%, some £17.8 million, compared to the previous year. However, growth levels moderated in the second half as the company reached the anniversary of last years product launches and contract gains.

Sales in the larger Cake division rose 9.2% versus last year to £152 million. Sales in the Bread and Free From division continued to deliver high levels of growth, up 10% on the prior year to £55 million, driven by strong growth in the fresh gluten free market and Vogel’s brand growth in the speciality bread market.

John Duffy, chief executive of Finsbury Food Group, comments: “The group has come a long way to achieve annual sales of over £200 million for the first time despite very challenging market conditions. This is testament to the hard work and resilience of the management teams and the quality and breadth of products they produce. With no let up in market conditions anticipated we continue to invest in growth areas and improved efficiency to maintain this success.”