Profit boost for Cardiff bakery manufacturer

Posted on 2 Apr 2015 by Victoria Fitzgerald

Baked goods manufacturer, Finsbury Food Group, reported pre-tax profits up by 95% in the second half of last year.

The surge is said to be a result of the firm’s acquisition of the Fletchers Group of Bakeries.

The Cardiff-based manufacturer hit a like-for-like profit increase of 77% in the last six months of 2014.

Group revenue rose by 24.1% and operating profits were up 74%.

The firm also said the profit boost was a result of its share of the cake market, production efficiencies and increased automation.

Mr Kipling, cakes, food.
The increase in profits was also attributed to the firm’s share of the cake market and investment in automation.

Chief executive John Duffy said: “We have seen notable growth, both organically and through the Fletchers acquisition, which is integrating well.

“We look forward to the remainder of the year with confidence and, despite a tough trading environment; we believe the group is in a strong position to deliver on our growth strategy.”