Homebaking helps Real Good Food

THE Real Good Food Company has enjoyed a “strong” first quarter and expects to meet its full-year targets.

The listed Liverpool-based company owns ingredients firms Napier Brown, Garrett, Renshaw, jam and bakery ingredients specialist R&W Scott and patisserie maker Haydens Bakery.

In a trading update ahead of the firm’s annual general meeting the group said it was embarking on a period of expansion to “transform the scale of the group over the next three years”.

Napier Brown, “a key driver of the group’s future”, is offering customers alternatives to the EU beet refiners, and more supply chain security.

Real Good Food’s strategic partnership with Mauritius-based Omnicane, which now has a 20% shareholding in the group, has increased its ability to source sugar.

Garrett Ingredients has been developing new dairy sources in Europe, exploiting new distributorships such as in dextrose and sweetened condensed milk, and broadening its product offering.    

Real Good said Renshaw was performing well, driven by strong demand from the home baking sector and continued growth in export sales.

Chairman Pieter Totté said: “I am pleased to report that the current year has begun well, with a strong first quarter, a flatter second quarter, but early indications to suggest that our seasonally-strong third quarter will be exciting.”

He added: “Based on our positive start, and the successful implementation of our growth plans, I am confident we are on track to meet market expectations for the current year.”