18 Oct 2019 07:00
Date: | 18 October 2019 | |
On behalf of: | Finsbury Food Group plc ('Finsbury', 'the Company' or 'the Group') | |
For immediate release |
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Finsbury Food Group plc
Publication of Annual Report and Accounts and Notice of Annual General Meeting
In accordance with AIM Rule 20, Finsbury announces that the Report & Accounts of the Company for the year ended 29 June 2019 and its Notice of Annual General Meeting ("AGM") have been published today and are available to view and download from the Investors section of the Company's website at www.finsburyfoods.co.uk.
Hard copies of these documents will be posted today to those shareholders who have elected to continue to receive paper communications. Shareholders are recommended to vote electronically at www.signalshares.com but may request a hard copy proxy form from the Company's Registrar, Link Asset Services, by calling the shareholder helpline.
The AGM will be held at the offices of CMS Cameron McKenna Nabarro Olswang LLP, Cannon Place, 78 Cannon Street, London, EC4N 6AF on Wednesday, 20 November 2019 at 09.30am.
Contact:
Finsbury Food Group John Duffy (Chief Executive) Steve Boyd (Finance Director)
| www.finsburyfoods.co.uk | 029 20 357 500 |
Cenkos Securities Max Hartley (Corporate Finance)
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Alma PR Rebecca Sanders-Hewett Sam Modlin Hilary Buchanan | finsbury@almapr.co.uk | 020 3405 0205 |
Notes to editors:
·; Finsbury Food Group Plc (AIM: FIF) is a leading UK manufacturer of cake and bread bakery goods, supplying a broad range of blue chip customers within both the grocery retail and 'out of home eating' foodservice sectors including major multiples and leading foodservice providers.
·; The Company is one of the largest speciality bakery groups in the UK and, with its Overseas division, has sales in the financial year ending 29 June 2019 exceeding £315m.
·; The Company's bakery product range is comprehensive and includes:
o Large premium and celebration cakes.
o Small snacking cake formats such as cake slices and bites.
o Artisan, healthy lifestyle and organic breads through to rolls, muffins (sweet and savoury) and morning pastries, all of which are available both fresh and frozen dependent on customer channel requirements.
o Gluten Free bread, morning goods and cake ranges.
·; The Company is one of the largest ambient cake manufacturers in the UK, a market valued at over £969 million (source: IRI, 52 w/e 20th July 2019). The retail bread and morning goods market has a value of £4.5 billion (source: Kantar Worldpanel 52 w/e 14th July 2019). The retail Free From Cake market is valued at £49.5 million (source: Kantar Worldpanel 52 w/e 24th March 2019). The retail Free From bread & morning goods market is valued at £125.3 million (source: Kantar Worldpanel 52 w/e 21st April 2019). The UK Out of Home sector Foodservice Bakery sector is worth approximately £747 million per annum (source: derived from MCA data for 52 weeks to 31st March 2019). The UK foodservice cake and sweet morning goods bakery sector is worth approximately £918 million per annum (UK foodservice data derived from MCA data for 52 weeks to 31st March 2019).
·; The Company comprises a core UK Bakery division and an Overseas division:
o The UK Bakery division has manufacturing sites in Cardiff, East Kilbride, Hamilton, Salisbury, Sheffield, Manchester, and Pontypool.
o The Overseas division comprises the Company's 50% owned company, Lightbody Stretz Ltd, which supplies and distributes the Group's UK-manufactured products and third party products, primarily to Europe, and the Company's manufacturing facility in Żywiec in Poland.
·; In September 2018, the Company completed the acquisition of Free From baker Ultrapharm, giving the Group a significant opportunity to access an exciting and high growth marketplace and manufacturing facilities in Pontypool in the UK and in Żywiec, Poland.