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Real Good Food shares turn sour on profit warning

Wed, 01st Apr 2015 12:06

Shares in Real Good Food plunged over 14% on Wednesday, after the ingredients group issued a profit warning.The AIM-listed company said it expected its full-year adjusted profit to miss targets on the back of falling sugar prices, adding that it was in talks over its Whitworths sugar business.The group's Napier Brown and Garrett Ingredients have been hurt by a decline in sugar market prices within the European Union, the company said.The former, which operates under the Whitworths brand, has returned to profit in the second half of the year but its performances have remained below expectations, Real Good Food said on Wednesday.The company's Renshaw and Haydens businesses performed strongly, though that was offset by significant one-off transaction costs and legal expenses in relation to the discussions with the UK and EU Competition Authorities.Analysts at Shore Capital said they were reviewing their forecasts on the Real Good Food, adding the group would benefit from a potential transaction involving its Napier Brown division."Such a transaction, if successfully concluded, would enable the Real Good Food to significantly strengthen its balance sheet and focus on more stable earnings growth going forward," they said in a note on Wednesday.Real Good Food shares were down 14.29% to 36.00p at 12:27 on Wednesday.
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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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20 Mar 2012 08:16

Real Good Food revenues and profit jump

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

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