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

Tue, 03rd Dec 2013 09:23

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 bottom line was down 71% to 0.4p. Executive Chairman Pieter Totte added that the sugar distribution business Napier Brown faced a "significant challenge" over the coming months as it brought its buying book in line with the dramatic correction in EU sugar market prices, but that measures had already been put in place to counter this.However, he pointed out that Napier Brown's sales volumes in both the industrial and retail markets increased significantly from the start of the new contract season in October 2013 and he anticipated the relaunched Whitworths sugar brand achieving a consumer sales value of more than £100m over the next 12 months.Elsewhere within the group, branding and sales initiatives at baking ingredients business Renshaw, chocolate and jams maker R&W Scott and patisserie arm Haydens were delivering in line with expectations and management anticipated that in the next financial year some 25% of group sales will be represented by branded product. "This demonstrates how our business model is evolving," said Totte.Shares in RGD were down 14% to 59p at 09:30 on Tuesday.OH
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1 Apr 2015 12:06

Real Good Food shares turn sour on profit warning

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

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1 Apr 2015 07:18

Real Good Food Issues Profit Warning As Sugar Prices Leave Sour Taste

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6 Feb 2015 14:49

Sector movers: Food stocks binned after Tate & Lyle profit warning

Tate & Lyle was dampening the food sector in London on Friday after the sweeteners maker disappointed investors with its second profit warning in just four months. Tate & Lyle said it now expects adjusted pre-tax profits for the year ending 31 March to be below previous guidance of £230m-245m. The

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20 Jan 2015 15:49

Real Good Food completes £4m Rainbow Dust acquisition

Bakery products manufacturer and supplier Real Good Food (RGF) has looked to cement its position in the increasing "global phenomenon" of cake decoration with the £4m acquisition of Lancashire-based cake decorating products business Rainbow Dust Colours. The group said the initial sum, which was fun

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20 Jan 2015 07:47

Real Good Food Buys Cake Decorating Business Rainbow Dust Colours

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18 Dec 2014 12:26

Real Good Food H1 revenues affected by falling sugar prices

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 pro

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25 Sep 2014 07:51

Real Good Food To Take AB Foods Dispute To EU; Signs New Supply Deals

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24 Sep 2014 08:17

Real Good Food Unit's British Sugar Dispute Misses CMA Prioritisation

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1 Aug 2014 10:35

Real Good Food Swings To Loss As Sugar Dispute With AB Foods Turns Soar

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1 May 2014 11:08

Real Food Good To Take Profit Hit On Sugar Dispute With AB Foods

LONDON (Alliance News) - The Real Good Food Company PLC Thursday said its sugar pricing dispute with the sugar subsidiary of Associated British Foods PLC, will have a significant impact on profits for the financial year just ended. The group has warned several times earlier in the year abou

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8 Apr 2014 15:16

Sector movers: Consumer staples making gains

Consumer staples stocks were among the best performers on Tuesday in London with tobacco, food and beverage stocks leading the advance. Cigarettes and tobacco giant British American Tobacco was among the best performers on the FTSE 100 in afternoon trade, up 1.8%, along with cosmetics and food grou

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25 Feb 2014 17:54

Napier Brown complains about British Sugar's pricing

* Napier Brown complains of abuse of dominant market position * ABF says any regulator would find it acted appropriately * Separately, German refiners recently fined over cartel By David Brough LONDON, Feb 25 (Reuters) - Napier Brown, a unit of The Real Good Food Company,

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21 Feb 2014 10:52

UPDATE: Real Good Food Shares Plummet As It Warns Of Hit From Sugar Price Dispute

LONDON (Alliance News) - Shares in The Real Good Food Company PLC dropped 25% on Friday after the baker and sugar producer again warned of challenges facing its sugar business and said it was in a pricing dispute with the sugar subsidiary of Associated British Foods PLC. In a statement, the

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21 Feb 2014 08:39

Real Good Food Shares Plummet As It Warns Of Hit From Sugar Price Dispute

LONDON (Alliance News) - Shares in The Real Good Food Company PLC dropped 25% on Friday after the baker and sugar producer again warned of challenges facing its sugar business and said it was in a pricing dispute with the sugar subsidiary of Associated British Foods PLC. In a statement, the

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4 Feb 2014 11:27

Real Good Food Says 3rd Quarter "Challenging"; Restoring Sugar Margins

LONDON (Alliance News) - The Real Good Food Company PLC Tuesday said several of its business recorded earnings growth for the third quarter, and it has now managed to address the dramatic reduction in sugar prices, hoping that its sugar profit margin will be fully restored during the course of th

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