(Alliance News) - Finsbury Food Group PLC on Thursday said it is trading in line with expectations, with first-half sales rising year-on-year, as the baker's UK unit offset declines elsewhere.
In the six months to December 28, Finsbury Food's sales rose by 4.7% from a year before to GBP159.4 million.
In its UK Bakery division, sales grew by 5.8% year-on-year during the first half, but in its Overseas division, they declined by 3.5%.
Finsbury Food said: "Notwithstanding the group's continued momentum, management are cognisant of the difficult trading environment and wider macro-economic uncertainty, and remain focused on innovation, efficiency and investment.
"The group is trading in line with market expectations for the full year."
The company will announce its interim results on February 24.
In its UK segment, Finsbury Food has licensing agreements with Walt Disney Co, to produce themed cakes, and the Thorntons chocolate brand, operated by Italian Nutella and Ferrero Rocher-owner Ferrero SpA.
Additonally, Finsbury owns the Johnstone's Just Desserts cake supplier business, which it rescued from administration in 2015.
Internationally, Finsbury Food has a presence in France, Belgium, the Netherlands and Luxembourg.
Finsbury shares were 1.1% lower at 97.90 pence each in London on Thursday morning.
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
