The Real Good Food Company plc is a leading UK bakery, ingredient and sugar group, offering a wide range of products to grocery retailers, wholesalers and manufacturers.
The company was incorporated in February 2003 in the United Kingdom originally as an investment holding company to facilitate the acquisition of companies or businesses operating in the food sector. Its main country of operation is the United Kingdom. Following the hive up of the subsidiary companies, The Real Good Food Company plc is now a publicly quoted UK food group trading in the food sector.
The Real Good Food Company plc has at its heart an entrepreneurial spirit supported by a solid understanding of commercial realties, with its focus on the essentials of success; service excellence, innovation and customer development. Through progressive and productive partnerships with customers the company is creating a recipe for success and a solid platform for future growth.
The Real Good Food Company PLC (LON:RGD) said it has made strong progress over the last 12 months and expects results for the financial year to end-December 2010 to be in line with market expectations.
The company owns Napier Brown, the largest independent non-refining distributor of sugar in Europe, supplies bakery ingredients through its Renshaw brand and manufactures patisserie and desserts through Haydens Bakery.
As anticipated in its November 2010 update, trading during the key pre-Christmas period was strong. The group suffered no loss of sales at all as a result of the exceptionally severe weather experienced during December.
Sugar prices world-wide have soared to record highs in recent weeks, a situation which should transform the dynamics of Napier Brown following a transitional year that has seen a conclusion of the EU sugar regime changes, it said.
Renshaw produced its best ever performance in 2010, with growing exports and the increased popularity of home baking being the key drivers of strong sales growth.
The planned expansion of the Haydens Bakery business into a new distribution centre is well advanced, and the business had a good pre-Christmas trading period.
The group has achieved considerable success over the past year in controlling costs and working capital, and ended the year with bank borrowings having been reduced to just under £20 miillion, significantly lower than current market forecasts.
The company will announce results in the week beginning 28 March 2011.