StockMarketWire.com - Finsbury Food's FY pretax profits rose to £11.4m, up 76% on 2014. Revenue rose to £256.2m, up 45.8% on the year and up 6.1% on a like-for-like basis. Adjusted operating profit rose to £12.4m, up 61% and up 20% on a like-for-like basis.

Group operating profit margin increased to 4.8% (2014: 4.4%).

A final dividend per share of 1.67p takes the total dividend for the year to 2.50p (2014: 1.00p per share).

Net debt stood at £21.3m and equates to 1.0 times pro forma annualised EBITDA of the Group. The group said net debt was well within the long term banking facility of £51m available to support current and future growth plans.

Operational Highlights

- Increase in operating profit margin showing the benefits of ongoing capex investment, continuous improvement, business improvement initiatives and overhead management.

- Organic sales growth of 6.1% versus prior year, driven by market share growth in the UK Cake business.

- Foodservice sales growth ahead of market growth with 20 new products launched across five ranges.

- Winner of 2015 Insider Wales Dealmakers Deal of the Year Award.

- Winner of Bakery Manufacturer of the year for 2015 at the Bakery Industry Awards.

- Food Manufacturer's Bakery Manufacturing Company of the year award 2014 and winner of 1st, 2nd and 3rd place in the Q awards.

- Successful robotic installation in Hamilton and completion of Cake Innovation Centre.

- Baking academies set up in Cake and Bread.

Chief executive John Duffy said: "The past year has truly been transformational. Building on our organic growth, the acquisitions in the period have diversified the Group into new channels and widened our customer base. In concurrence, we have invested significantly in the business to ensure long term competitiveness.

"With annualised turnover of close to £300m, Finsbury is a diverse bakery Group with an ambition to increase shareholder value, identify acquisition opportunities and deliver further growth. Even in the value conscious consumer markets we are operating in, our solid strategy and unwavering vision allows us to look forward to the year ahead with confidence." Story provided by StockMarketWire.com