23 Nov 2016 10:56
Date: | 23 November 2016 |
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 manufacturer of cake, bread and bakery goods, is pleased to confirm that at its Annual General Meeting held today, all resolutions put to shareholders were duly passed.
- ENDS -
For further information: | |
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) | |
Redleaf Communications | finsbury@redleafpr.com |
Rebecca Sanders-Hewett | 020 7382 4730 |
Sarah Fabietti-Dallison |
Sam Modlin
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.
§ Following the acquisition of the Fletchers Group of bakeries, the Company is one of the largest speciality bakery groups in the UK with annualised sales in 2016 exceeding £300 million.
§ The Company's bakery product range is comprehensive and includes:
· Large premium and celebration cakes.
· Small snacking cake formats such as cake slices and bites.
· 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 now the second largest manufacturer of ambient packaged cake (excluding In Store Bakery (ISB)) in the UK, a market valued at over £950m (Source Symphony IRI 52 w/e 13 August 2016). The annual retail bread and morning goods market has a value in excess of £4.0 billion (source Kantar Worldpanel 52 weeks to 19 June 2016). The UK foodservice bread and morning goods bakery sector is worth approximately £800 million per annum, 70 per cent of which is in morning goods. The UK foodservice cake and sweet treat bakery sector is worth approximately £600m per annum.
§ The Company comprises a UK Bakery division and an Overseas division:
· UK Bakery has manufacturing sites in Cardiff, East Kilbride, Hamilton, Twechar, Salisbury, Sheffield, London and Manchester.
· The overseas sector comprise, the Company's 50% owned Company Lightbody Stretz Ltd that supplies