21 Nov 2018 13:48
Date: | 21 November 2018 |
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 21 November 2018.
For further information:
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
| 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 30 June 2018 exceeding £300m.
· 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 one of the largest ambient cake manufacturers in the UK, a market valued at over £950 million (source: IRI, 52 w/e 23rd June 2018). The annual retail bread and morning goods market has a value of £4.3 billion (source: Kantar Worldpanel 52 weeks to 17th June 2018). The UK foodservice bread and savoury morning goods bakery sector is worth approximately £691 million per annum (source: derived from MCA data for 52 weeks to 31st March 2018). The UK foodservice cake and sweet morning goods bakery sector is worth approximately £807 million per annum (UK foodservice data derived from MCA data for 52 weeks to 31st March 2018).
· The Company comprises a UK Bakery division and an Overseas division:
- The UK Bakery division has manufacturing sites in Cardiff, East Kilbride, Hamilton, Salisbury, Sheffield, and Manchester.
· 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.
· Since the year end date of 30th June 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 Zywiec, Poland.