UK bakery ingredients and desserts maker The Real Good Food Co. today (14 December) announced improved profits and progress with its strategic revamp.
Earlier this year, Real Good Food changed its accounting reference date from 31 December to 31 March and will make a half-year statement at the end of January. However, it issued this trading update today from 1 July in line with last year’s results timetable.
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The company, which owns bakery ingredients supplier Renshaw, dairy ingredients firm Garrett and desserts manufacturer Haydens Bakery, said its “improved EBITDA performance” had continued. It said problems in its sugar supply chain had eased and borrowings had been reduced.
Executive chairman Pieter Totté said: “Whilst we are still only midway through the key Christmas trading period, I am pleased with the progress we have made so far, both in terms of our financial performance this year against last year, and the good progress being made with all the strategic initiatives for each of our businesses.”
The statement also highlighted the launch of the Renshaw brand, another brand called Whitworths that will launch early next year and improved production. It did, however, admit that the modernisation of the Haydens Bakeries is running six months behind plan.
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