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Real Good Food revenues and profit jump

Tue, 20th Mar 2012 08:16

UK bakery, ingredient and sugar group Real Good Food reported a year-on-year rise in both revenue and pre-tax profit in the second half of 2011. Profit for the six month period rose from £3.2m to £4.2m on revenues of £139.3m compared to £109.4m the same period the previous year. Gross profit rose from £14.8m to £20.1m. Profit from continuing operations rose from £2.5m to £3.3m year-on-year. Basic profit per share rose from 3.8p to 5.1p. Overall, the Net Debt / EBITDA (earnings before interest, tax, depreciation and amortisation) ratio improved significantly, down from 4.0 at 31 December 2010 to 2.8 at December 31st. In a statement the company said: "Increased commodity costs during the year have pushed up working capital levels but, as previously forecast, these have now eased with the year closing at £36.7m, down from £39.7m at June 2011. This is reflected, along with the benefit of higher cash generation in the second half, in a lower net debt level of £25.8m, down from £31.9m at June 2011."We have a clear growth plan. Our strategic focus is on creating solid sustainable profitability based on self-help initiatives including brand development, sales growth and risk management. We are now seeing significant benefits coming through from this. We are also benefitting from our adjustment to the structural development in market supply affecting our biggest business, Sugar, in which we moved from a surplus market to a deficit market, with associated higher prices and the need to secure surety of supply." EBITDA was up 62% to £9.1m (2010: £5.6m). Cash levels fell from £3.2m to £1.5m.The company is in the process of changing its financial year end from the end of December to the end of March. NR
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3 Dec 2013 09:23

Soggy bottom line for Real Good Food as costs and sugar prices weigh

First-half profits plummeted at ingredients specialist Real Good Food as it suffered from a dramatic drop in EU sugar prices and continued its reorganisation. Higher costs meant that profits plunged 90% to £0.1m on sales down 5.6% to £130.1m in the six months to September 30th, meaning a soggy bott

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10 Oct 2013 10:34

Real Good Food Company's sugar unit wins supply deals with Asda, Booker

The Real Good Food Company said its sugar specialist Napier Brown had won major new supply contracts from grocer Asda and wholesaler Booker for its Whitworths sugars range. The deals will double the retail value of Whitworths sugar sales and create about 80 new jobs at Napier Brown's headquarters i

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10 Oct 2013 07:27

Real Good Food's Napier Brown Wins Sugar Contracts With Asda, Booker

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12 Sep 2013 08:39

Real Good Food hits first half targets

UK bakery, ingredient and sugar group Real Good Food said trading during the first half of its financial year has been in line with company expectations. In June, the Liverpool based group announced a positive trading performance for the 12 months ended March 31st 2013, following improved profitab

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27 Jun 2013 06:36

Thursday tips round-up: Bunzl, Direct Line, Real Good Food

Bunzl is a boring investment but in these markets, boring is good, according to The Times' Tempus column. As a note from Numis Securities on Wednesday highlighted, there is little that is boring about a share price that has risen by 25 times over 23 years. The latest trading statement from Bunzl al

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20 Mar 2013 07:20

Final quarter pick up for Real Good Food

Sugar and ingredients firm Real Good Food Company said, following a difficult third quarter, trading in the final quarter to March has been encouraging with a large positive swing in EBITDA. The rise in EBITDA was due to a stronger sugar trading quarter, combined with the turnarounds achieved at Ha

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31 Dec 2012 08:26

London open: Stocks fall ahead of fiscal cliff deadline

The Footsie opened firmly in the red on Monday morning with just one day to go before the automatic spending cuts and tax increases in the US come into effect. Without a deal by politicians Stateside to avert the so-called fiscal cliff by tomorrow, analysts expect the US economy to plunge back into

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31 Dec 2012 07:54

Real Good Food completes five year banking facility

Sugar and ingredients firm Real Good Food Company confirmed that it has completed a new five year 50m pound bank facility with its current financiers PNC Financial Services UK ahead of the maturity of its existing facilities in July 2013. The new facility which, represents a £10m increase on the e

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13 Sep 2012 07:50

Real Good Food confident of strong quarter

UK bakery, ingredient and sugar group Real Good Food said the current year has started well, with a strong first quarter, a flatter second quarter, and early indications suggesting a seasonally-strong third quarter. The Liverpool based sugar producer added that is on track to meet market expectatio

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24 Aug 2012 16:24

SDL non-exec takes up only holding in firm

Mandy Gradden, a non-executive director of SDL, the FTSE 250 information management firm, bought up 7,500 shares on Thursday, just over a week after the company unveiled a 20 per cent leap in first-half revenues. Gradden's purchase, in which she bought the shares at 658p each for a total of £49,35

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17 Aug 2012 16:12

Bostock reduces stake in Marks and Spencer before exit

Kate Bostock, who is quitting her role as Executive Director of General Merchandise at Marks and Spencer, has taken advantage of the recent rise in the retailer's share price with a double sale of shares late on Thursday. Bostock, who announced her exit in July but will stay on until October, sold

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4 Jul 2012 16:31

Electrocomponents directors ditch shares awarded in bonus plan

The Chief Executive Officer (CEO) of FTSE 250 electronics and maintenance products distributor Electrocomponents has, alongside the group's Finance Director, sold off a number of shares awarded under the company's deferred bonus plan. CEO Ian Mason earned himself £100,554 after selling 48,460 at 2

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3 Jul 2012 07:05

Real Good Food lifts sales

Liverpool based sugar producer the Real Good Food Company lifted sales for the 15-months to end March following a robust performance from Renshaw and Garrett Ingredients. Revenue for the 15-month period increased to £305.5m from £249m for 12 months to 31 December 2010. EBITDA jumped 62% to £9.1m

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18 Jun 2012 08:09

Mauritian firm ups stake in Real Good Food

Mauritius outfit Omincane is to increase its stake in theReal Good Food Company (RGFC), which owns a portfolio of sugar, bakery and patisserie firms. Omincane is paying 60p a share, a 9.1% premium to the closing price of RGFC on the trading day before the announcement, to increase its holding in th

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