LONDON (Alliance News) - Real Good Food PLC Friday reported a wider pretax loss in its recently-ended financial year as revenue fell, but it said it looks forward to the future with optimism.
The company reported a pretax loss in the year ended March 31 of GBP3.5 million, wider than the GBP1.5 million loss it made the year before, as revenue fell to GBP104.6 million from GBP110.2 million.
Real Good Food said the year had been dominated by the market issues in the sugar sector, including its ongoing dispute with British Sugar Ltd. That hit both its Napier Brown arm, which it has now sold, and its Garrett Ingredients business. Outside of this, however, trading for the group was strong in the year, with robust sales and profit growth in its Renshaw and Haydens businesses.
"Trading in the early months of the new financial year within our continuing businesses has begun well and with the funds from the sale of Napier Brown being received in May we are now in a position to fast-track some of the investment opportunities," said Chairman Pieter Totté.
"We will also look at potential bolt-on acquisitions which will help build our presence in our chosen markets, but only where there is a sensible financial and operational investment case," Totté added.
"Overall, the business is in good shape and we look forward with great optimism," he added.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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