StockMarketWire.com - Finsbury Food Group's revenues rose to GBP156.6m in the 26 weeks to 26 December, up 46% on last time and 7.4% higher on a like-for-like basis.

Operating profit of £8.0m was up 78% (H1 2014: £4.5m) and up 21% on a like-for-like basis. Group operating profit margin rose to 5.1% (H1 2014: 4.2%).

Profit before tax rose to £7.5m up 84% (H1 2014: £4.1m) and up 22% on a like-for-like basis.

The group said the increase in operating gross margin and profit margin followed ongoing capital investment of £3.7m (H1 2014: £1.7m) and operational initiatives.

Interim dividend per share is increased 12% to 0.93p (H1 2014: 0.83p per share).

Chief executive John Duffy said: "We are very pleased to once again be reporting a strong first half performance, with our organic growth being supplemented by the acquisition of Fletchers and Johnstone's. Alongside this growth, our capital investment strategy, together with our continued efficiency programme has resulted in improved operating margins. "Despite operating in a challenging market, we have created a Group that is well positioned to flourish in an improving environment and we look forward to benefitting from increased consumer confidence. Having built solid foundations and implemented a robust growth strategy that aims to create sustainable value for our stakeholders, we look forward to driving further growth both organically and through strategic M&A."



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