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Real Good Food H1 revenues affected by falling sugar prices

Thu, 18th Dec 2014 12:26

Real Good Food saw its profits turn into losses during the first half of the year due to a pricing dispute with British Sugar and a drop in sugar prices.The food business, which distributes sugar in the UK, reported a drop in revenues by 1% to £128.7m from £130.1m same time last year.Pre-tax profits of £13,000 last year turned into losses of £4.71m, which dragged earnings per share of 0.4p to losses per share of 6.8p.Its Napier Brown and Garret Ingredients divisions suffered from the pricing dispute and low sugar prices during the period, but the company said the business has return to profitability in the last months of the year.Cash and equivalents also decreased to £4.4m from £3.3m.However, chairman Pieter Totté said the group has been trading ahead of last year during October and November and expects an improved trading during the Christmas period and next year.Totté wrote: "We remain confident about the prospects for the Group and are working on a number of new corporate initiatives, with a focus on delivering value to shareholders."Shore Capital analysts said Real Good Food will "always going to see a challenged financial performance" next year."However, it is pleasing to see that the company is seeing an improved financial performance in the second half and as a whole," the broker continued.Shares were down 1.72% to 27p on Thursday at 12:28.
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11 Nov 2015 09:24

Real Good Food Loss Narrows, Says Products Well Placed For Christmas

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23 Sep 2015 06:55

Real Good Food Like-For-Like Sales Down But Satisfied With Trading

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15 Sep 2015 06:38

Real Good Food Appoints David Newman As Finance Director

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7 Aug 2015 14:14

Real Good Foods widens losses, optimistic after Napier Brown sale

(ShareCast News) - Real Good Foods (RGF) declined after posting a wider loss before tax, but said it remains confident of the future. The pre-tax loss more than doubled to £3.5m from £1.5m the same time last year, while revenue declined 14.6% to £232.9m. The company said the year ended 31 March was

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7 Aug 2015 06:52

Real Good Food Annual Loss Widens, Says New Year Started Well

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22 Jul 2015 08:18

Real Good Food FD Mike McDonough to step down

(ShareCast News) - Real Good Food, the AIM-listed diversified food company, has announced its group finance director Mike McDonough will leave the business with effect from 31 August. Giving details in a statement on Wednesday, the company said after the sale of Napier Brown Sugar unit for £34m to F

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22 Jul 2015 07:38

Real Good Food Finance Director Mike McDonough To Leave

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4 Jun 2015 08:10

Real Good Food appoints new managing director at Rainbow Dust Colours

Real Good Food, the bakery products manufacturer and supplier, has appointed a new managing director for its Rainbow Dust Colours brand. David Grieve, who will take over the role from June, has 25 years of experience in the sugarcraft, bakery and cake decoration markets. Grieve was previously a mark

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1 Jun 2015 11:56

Shares in Real Good Food jump following successful Napier Brown divestment

Real Good Food expects a positive performance at its Renshaw and Haydens brands to help full-year earnings following a profit warning last month. The bakery products manufacturer and supplier said net sales would come in at £104m, while earnings before interest, taxes, depreciation, and amortisation

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1 Jun 2015 06:52

Real Good Food Says Trading Well As Earnings Improved In Recent Year

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5 May 2015 13:40

DIRECTOR DEALINGS: Real Good Food Non-Executive Buys 50,000 Shares

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1 May 2015 14:01

DIRECTOR DEALINGS: Real Good Food Director's Wife Buys Shares

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29 Apr 2015 09:27

UPDATE 1-France's Tereos to buy British sugar distributor Napier Brown

* Napier Brown's brands include Whitworths Sugar * Puts Tereos in better position for opening of European market (Adds details throughout, Tereos statement) By David Brough and Sybille de La Hamaide LONDON/PARIS, April 29 (Reuters) - French sugar maker Tereos has agreed to buy

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29 Apr 2015 08:20

Tereos to buy sugar distributor Napier Brown

LONDON, April 29 (Reuters) - French sugar maker Tereos has agreed to buy sugar distributor Napier Brown Sugar Ltd, a unit of Real Good Food, for 34 million pounds ($52.27 million) plus working capital in cash on completion of the sale, Real Good Food said in a statement on Wednesday. A gen

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29 Apr 2015 07:52

Real Good Food Shares Up 30% On Napier Grown Sugar Sale Agreement

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