The chief executive of Real Good Food Co. said today (2 June) that the UK sugar and food ingredients company is on track to “significantly exceed” market forecasts in the current financial year.
Pieter Totté said the firm had had a “strong start” to its fiscal year, with high sugar prices boosting its Napier Brown sugar unit and sales at the company’s Haydens desserts arm up year-on-year.
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“Based on our trading performance during the first five months of the current financial period – and my confidence that we can sustain this progress through our international sourcing skills in the sugar market, the forthcoming brand launches, and the benefits of plant reorganisation work at Haydens – I believe that the group is on course to significantly exceed current market forecasts for the year, Totté said.
Speaking to Real Good Food Co.’s AGM, Totté noted that margins from the company’s Garrett dairy and bakery ingredients unit were “up around 50% on the previous year”.
Totté added that Real Good Food Co. is set to launch 47 products under its Renshaw brand “in the next few weeks”. The company’s Renshaw bakery ingredients unit, he added, also wanted to drive overseas sales and had appointed an export manager.
Real Good Food Co.’s retail division, part of the Napier Brown unit, will launch a range of “speciality” sugars under the Whitworth brand later this year, Totté said.
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By GlobalDataShares in Real Good Food Co. were up 7.69% at 73.5p at 14:47 BST this afternoon.
