FDBusiness.com

The Real Good Food Company, the UK sugar, food ingredients and bakery group, has reported a profit before tax of £1.15 million for the first six months ended June 30th 2011, against a loss of £1.11 million in the corresponding period of the previous year. Total group sales increased by 21% to £109.8 million and EBITDA improved from £0.6 million to £2.7 million as all four business units made progress.

The Real Good Food Company incorporates the largest independent non-refining distributor of sugar in Europe (Napier Brown) and is a supplier of dairy ingredients (Garrett), bakery ingredients (Renshaw) and a manufacturer of sweet bakery products (Haydens).

“I am very pleased by the progress we have made during the first half, particularly as we have had to contend with increased commodity costs and challenges in the sourcing of sugar supplies. Despite this we have achieved growth in all of our businesses, a substantial uplift in EBITDA, while continuing to invest for further growth,” comments Pieter Totte, chairman of The Real Good Food Company. “After a three year period in which our trading performance has been over-shadowed by the impact of EU sugar reforms, we are now more in control of our own destiny. We have the people and the products to make considerable further progress and I therefore look to the group’s future with growing confidence.”