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Really good food in the first half operating profits to improve the

30 September 2009 1,849 views No Comment

The loss from continuing operations of £0.889m represents an improvement from the comparable figure of £1.159m

Real Good Food Company plc, the sugars, ingredients and bakery company, has reported that Total Group sales from continuing operations decreased 2.2% to £101.7m from £104.0m compared to the same period previous year, reflecting the price and volume pressures in the sugar division as a result of regime change.
The company has said that sales improvements at Bakery Ingredients and Bakery divisions improved their operating performance year-on-year, driven by increased margins and lower overheads. This was offset by a 4.3% reduction in sales at its Sugar Division to £78.1m (2008: £81.7m). The loss from continuing operations of £0.889m represents an improvement from the comparable figure of £1.159m. Loss basic and diluted share is 1.3p compared to 1.8p for the corresponding period prior year. Net cash from operating activities is £0.504m compared to £1.467m for the comparable period prior year.
Pieter Totte, chairman of Real Good Food, said: “The group continues to trade in line with its plan and with its commitments associated with its banking arrangements. We are currently benefiting from the consolidation of Renshaw Napier business with underlying overheads reducing with a full year impact flowing through 2010. The business is focussed on cash generation by further reducing Working Capital levels and focusing on EBITDA performance. With further stability expected in the sugar market, improved profitability in both ingredients and bakery, we remain quietly confident regarding the remainder of the year as we move into our busiest seasonal period.”

By Staff Reporter

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