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.