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21 Nov 2018 | 14:23

Finsbury Food trading in line with expectations amid contract wins

Specialty baker Finsbury Food Group said it expected its annual performance to meet its expectations following a number of significant contract wins.

The company continued to trade in a difficult environment with sustained inflationary pressures, chairman Peter Baker said in speech notes for the company's annual general meeting.

'Despite this, our ongoing investment programme, underpinned by our strong cash flow, continues to drive operational efficiency and alongside this, we are mitigating cost inflation through price recovery,' Baker said.

'Whilst weaker customer demand over the summer season has resulted in sales being weighted to the second half, current trading is underpinned by a number of significant contract wins heading into the strong Christmas trading period, which will deliver sales growth in both the first half and beyond.'

'As such, the group expects to be in line with expectations for the 2019 financial year.'

At 2:23pm: (LON:FIF) Finsbury Food Group PLC share price was -2.5p at 110.5p

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