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The cake, bread and morning goods manufacturer declared operating profit of £16.1m in the 52 weeks to 26 June, up from £14.9m in the previous year on sales up 2.3% to £313.3m. Retail sales had largely compensated for a drop in foodservice sales, the company said.

Finsbury spent £6.2m on capital projects across the year, including investment in a new frozen dough ball facility commissioned in Manchester and in additional 50% capacity in artisan bread production equipment.

New product development included free-from and vegan cakes, vegan doughnuts and a range of artisan gluten-free breads.

‘Almost at pre-pandemic levels’

“It was incredibly pleasing to deliver such a robust financial performance with year-on-year revenue growth and a total sales figure almost at pre-pandemic levels, despite having to navigate such challenging circumstances over the period,”​ said chief executive John Duffy. “We have continued to introduce new initiatives, in line with our Operating Brilliance Programme, to enable the group to operate as a single, efficient organisation capable of scale execution. 

“I would like to thank all our people across the group for their continued hard work, determination and commitment through what has been a testing time for many of them and their families. Without the determination of our committed workforce, we wouldn’t have been able to play a part in keeping food shelves stocked in the territories we serve and the whole team should be extremely proud of their contributions. 

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