UK-based The Real Good Food Co. today (20 September) posted a rise in half-year sales and profits.
The company saw sales rise by 21% to GBP109.8m (US$172.2m) in the six months to the end of June.
Go deeper with GlobalData
Real Good Food, which owns bakery ingredients supplier Renshaw and dairy ingredients firm Garrett, posted EBITDA of GBP2.7m, up from GBP0.6m in the first half of 2010, despite the “challenges of rising commodity costs”.
The firm reported profit from continuing operations of GBP952,000, compared to a loss GBP935,000 a year earlier.
Chairman Pieter Totté said all parts of the business, which also includes sugar distributor Napier Brown and bakery products maker Haydens, were profitable and achieved growth.
“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,” he said.
“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.”
The company’s share price rose 2.67% today at 14:45 BST to 53.9p a share.
