Finsbury Food H1 sales up 15%

19th Jan 2023 09:52

(Sharecast News) - Speciality baker Finsbury Food posted a jump in first-half sales on Thursday, driven by price recovery initiatives.

In an update for the six months to the end of December, the company hailed an "encouraging" performance despite ongoing macroeconomic and cost inflation challenges, with total sales up 14.7% to £190.9m.

Finsbury pointed to a stable performance in UK retail, an ongoing recovery in foodservice and a continued strong performance in the overseas division.

"As referenced in the group's November 2022 AGM statement, food sector headwinds in the current financial year have exceeded those experienced during FY22," it said.

"To have delivered a robust H1 performance in that context provides further validation of the group's range of quality products, the viability of our operational strategy and the long-term prospects of our selected markets."