Final quarter pick up for Real Good Food

20th Mar 2013 07:20

Sugar and ingredients firm Real Good Food Company said, following a difficult third quarter, trading in the final quarter to March has been encouraging with a large positive swing in EBITDA.The rise in EBITDA was due to a stronger sugar trading quarter, combined with the turnarounds achieved at Haydens and R&W Scott, as well as improved trading in Renshaw, the group explained in a company update.The Liverpool based sugar group said turnover in the final quarter is expected to be around £65m, up from £56m in the final quarter of 2012. EBITDA in the fourth quarter is expected to be £3.9m compared to £0.1m a year earlier, after contributions from all of its businesses. For the 12 months to March 31st 2013 the group expects EBITDA in the region of £10.5m, up 24% over the same period last year of £8.5m.Chairman Pieter Totté said: The changes we have made have produced positive results and these are now beginning to show through, as demonstrated by our Q4 results. In line with the rest of the food sector, I believe that 2013 will be a challenging year, but I am confident that we are in a strong position to achieve our goals for this year and remain on course to achieve my longer term vision." As previously announced, the group is now operating with its new five-year term financing arrangement. CJ