RGD Real Good Food Plc

 

TIDMRGD 
 
RNS Number : 2007W 
Real Good Food Company Plc (The) 
24 July 2009 
 

The Real Good Food Company plc (AIM: RGD) 
 
 
 
 
Trading Update 
 
 
The Real Good Food Company plc ("Real Good Food" or "the Group"), is a supplier 
of sugars and bakery ingredients and a manufacturer of bakery products. To 
coincide with its Annual General Meeting, being held in Liverpool at 10.00 a.m. 
today, the Group is making the following comments on trading during the six 
months to 30 June 2009. Interim Results for this period will be published in 
late September. 
 
 
The first six months of the current financial year have seen some stability 
returning to the markets in which the Group operates, after a long period in 
which it has faced very challenging trading conditions. In particular, changes 
to the EU sugar regime, and a reduction in the EU sugar production quota, have 
helped move the sugar market into balance with some fluidity in pricing as the 
industry wrestles with the challenges of enhancing margins in a falling market. 
Merger of the sugar and bakery ingredients businesses to form Renshawnapier has 
gone well and according to plan. A new operating Board has been established and 
operational and commercial structures re-aligned with the revised business 
model. Sugar volumes continue at the lower levels witnessed since last summer, 
as continued economic pressure restricts sales. Conversely, export sales of 
sugar pastes have seen a tremendous growth, with volumes up 40%. 
 
 
Margins in the first half of the year at Renshawnapier have, not unexpectedly, 
been below that of the prior year, although some improvements have been seen in 
the second quarter. The benefits of the recent restructure are beginning to flow 
in terms of overhead savings. 
 
 
At Hayden's, the Group's Bakery Division, new sales to a food service customer, 
combined with promotional volumes, have aided revenues, which are 12% up on the 
prior year. Price increases have been secured in the second quarter and this has 
had a positive effect on margins, while raw material controls are much improved 
and this is also aiding some margin recovery. 
 
 
Stephen Heslop, C.E.O., comments: 
 
 
"The merger of the two principal pillars of the Group to form Renshawnapier has 
gone well and according to plan. This new division is performing in line with 
expectations, although behind the prior year, while Hayden's is performing in 
line with expectations and up on the prior year. The Board is pleased with the 
progress the Group has made in the first six months of 2009." 
 
 
24 July 2009 
 
 
ENQUIRIES: 
 
 
+----------------------------------------------+----------------------------+ 
| The Real Good Food Company plc               | Tel: 0151 706 8200         | 
+----------------------------------------------+----------------------------+ 
| Stephen Heslop, Chief Executive Officer      |                            | 
+----------------------------------------------+----------------------------+ 
| Mike McDonough, Finance Director             |                            | 
+----------------------------------------------+----------------------------+ 
|                                              |                            | 
+----------------------------------------------+----------------------------+ 
| Shore Capital                                | Tel: 020 7408 4090         | 
+----------------------------------------------+----------------------------+ 
| Guy Peters                                   |                            | 
+----------------------------------------------+----------------------------+ 
|                                              |                            | 
+----------------------------------------------+----------------------------+ 
| College Hill                                 | Tel: 020 7457 2020         | 
+----------------------------------------------+----------------------------+ 
| Gareth David                                 |                            | 
+----------------------------------------------+----------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 TSTUOVSRKBRBUAR 
 

Real Good Food (LSE:RGD)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024

Real Good Food (LSE:RGD)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024