Profits rise 8% at Real Good Food

REAL Good Food Co, the Liverpool-based manufacturer and supplier of sugar and other catering ingredients, saw earnings grow last year.

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

In the year to March pre-tax profits were up 8% to £6.7m on sales of £265.7m, up 2.7%.

Executive chairman Pieter Totté said: “I am delighted to be able to report on a year of steady progress by the group, when we achieved a significant increase in earnings despite only recording a modest increase in overall revenue. We continued to invest in the development of our five businesses, but were still able to reduce total borrowings and secured new financing facilities for future expansion.      
 
“While the outlook for the economy and consumers’ disposable income is likely only to improve gradually, I am confident that we have a strong platform for long term, sustainable growth, based on sound plans. I would like to thank colleagues across all the businesses for all the hard work which lies behind these results.”

Net borrowings reduced by £3.7m to £25m.