StockMarketWire.com - Speciality bakery manufacturer Finsbury Food reported a sharp rise in profit as lower cost and 'extremely positive' second-half sales boosted performance.

For the 52 weeks ended 26 June 2021, pre-tax profit rose 493% to £17.0 million year-on-year as revenue increased 2.3% to £313.3 million.

The company said it delivered an 'extremely positive second half performance with second half revenues up 9.1% against the corresponding period in the prior year.'

Looking ahead, the company it was likely to 'face persistent challenges around inflation and skilled labour and driver shortages,' but added that its 'long-term growth ambitions remain unchanged.'

Over the last 18 months, the group has 'shown its resilience and its ability to adapt, develop and strengthen no matter the circumstances,' it added.



Story provided by StockMarketWire.com