22 Nov 2017 15:00
Date: | 22 November 2017 |
On behalf of: | Finsbury Food Group plc ('Finsbury', 'the Company' or 'the Group') |
For immediate release | |
Finsbury Food Group plc
Result of AGM
Finsbury Food Group plc (AIM: FIF), a leading UK speciality bakery manufacturer of cake, bread and morning goods for both the retail and foodservice channels, is pleased to confirm that all resolutions put to shareholders were duly passed at its Annual General Meeting held today, Wednesday 22 November 2017.
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Finsbury Food Group Plc | www.finsburyfoods.co.uk | |
John Duffy (Chief Executive) | 029 20 357 500 | |
Stephen Boyd (Finance Director) | ||
Cenkos Securities plc | ||
Bobbie Hilliam (Corporate Finance) | ||
Nick Searle (Sales) | ||
Redleaf Communications | finsbury@redleafpr.com | |
Elisabeth Cowell | 020 7382 4752 | |
Ian Silvera | ||
Fiona Norman |
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 1 July 2017 exceeding £300m.
· 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.
· The Company is one of the largest ambient cake manufacturers in the UK, a market valued at over £938 million (source: Symphony IRI, 52 w/e 19th August 2017). The annual retail bread and morning goods market has a value of £4.0 billion (source: Kantar Worldpanel 52 weeks to 16th July 2017). The UK foodservice bread and morning goods bakery sector is worth approximately £836 million per annum. The UK foodservice cake and sweet treat bakery sector is worth approximately £494 million per annum (UK foodservice data derived from NPD Crest 52 w/e 30th June 2017).
· The Company comprises a UK Bakery division and an Overseas division:
o The UK Bakery division has manufacturing sites in Cardiff, East Kilbride, Hamilton, Salisbury, Sheffield and Manchester.
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.