Real Good Food: Good Progress In 1H Trading Across All Units

29th Jul 2010 07:44

LONDON (Dow Jones)--The Real Good Food Company PLC (RGD.LN), owner of an independent non-refining distributor of sugar in Europe (Napier Brown) and is a supplier of bakery ingredients and a manufacturer of sweet bakery products for a range of major retail customers, said Thursday that during the six months to June 30, the Group has seen good trading progress within all three of its trading businesses, with a continuation of the strong sales growth at Renshaws, the baking ingredients business, and at Hayden's Bakeries. MAIN FACTS: -Lower prices have impacted overall turnover in the Napier Brown sugar business, but a tightening of the supply position is expected to lead to a recovery in pricing levels at the start of the new contract season in October. -The Group has maintained its strong focus on cash during the half year, and has achieved a GBP1.5 million reduction in working capital year on year, while total Group borrowings are GBP2.3 million (8%) lower than June last year. -Shares closed Wednesday at 27.0 pence. By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires July 29, 2010 02:44 ET (06:44 GMT)