Finsbury Foods reports sales growth
Finsbury Foods has posted underlying profits of £5.8 million for the year to 2 July, an increase of 8.3% after sales rose by 12.6%.
The company is Britain’s second largest supermarket cake supplier and specialises in licensed Disney and Thorntons celebration cakes.
Chief executive John Duffy comments, “Keeping things affordable for the customer is essential. We will where possible modify our product range to offset price increases.”
Sales rose by 12% in its cakes business over the year to £139.6 million. Thorntons-branded sales jumped by 17% and Disney by 16% following heavy promotional activity and the success of Disney films such as Pirates of the Caribbean and Cars 2. Shares jumped more than 7% on the back of the results.