Pre-close trading update (4131A)
01 Février 2011 - 8:00AM
UK Regulatory
TIDMRGD
RNS Number : 4131A
Real Good Food Company Plc (The)
01 February 2011
The Real Good Food Company plc (AIM: RGD)
Pre-close trading update
The Real Good Food Company plc ("the Group"), owns the largest
independent non-refining distributor of sugar in Europe (Napier
Brown), supplies bakery ingredients (Renshaw) and manufactures
patisserie and desserts (Haydens Bakery)
As anticipated in the last update, on 30 November, trading
during the key pre-Christmas period was strong, and the Group
suffered no loss of sales at all as a result of the exceptionally
severe weather experienced during December.
Sugar prices world-wide have soared to record highs in recent
weeks, a situation which should transform the dynamics of Napier
Brown following a transitional year that has seen a conclusion of
the EU sugar regime changes.
Renshaw produced its best ever performance in 2010, with growing
exports and the increased popularity of home baking being the key
drivers of strong sales growth.
Planned expansion of the Haydens Bakery business into a new
distribution centre is well advanced, and the business had a good
pre-Christmas trading period, during which it received accolades
from customers for its ability to maintain product deliveries,
despite weather-related logistical challenges.
The Group has achieved considerable success over the past year
in controlling costs and working capital, and ended the year with
bank borrowings having been reduced to just under GBP20m,
significantly lower than current market forecasts.
Overall profits for the year to 31 December 2010, which are to
be announced in the week beginning 28 March 2011, will be in line
with current market forecasts.
Pieter Totte, Executive Chairman, comments:
"I am very pleased at the significant progress we have made over
the past 12 months and the efforts made by our management team to
realise the Group's full potential. We have three exciting
businesses, each with prospects for continued further progress in
the current year, and a significantly reduced level of bank
borrowings. I look forward to reporting further on our progress
over the coming months."
1 February 2011
ENQUIRIES:
The Real Good Food Company plc Tel: 0151 706 8200
Pieter Totte, Chairman
Mike McDonough, Group Finance Director
Shore Capital Tel: 020 7408 4090
Stephane Auton
College Hill Tel: 020 7457 2020
Gareth David
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTUAUBRAOAAOAR
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