Bakery supplier Real Good Food predicts 'stable' year

MARZIPAN manufacturer Real Good Food yesterday said it expected its profits to be stable over the course of its current financial year.

The group, which supplies icing and other products to bakeries, reported turnover of 231.1 million for the year ending 31 December, up from 221.7m in its previous financial year. Profits before tax were 4m, down from 5.6m in 2006.

Over the course of the year, the group sold Five Star Fish, its fish division, for 35.8m.

Pieter Totte, chairman of Real Good Food, said: "The past year has been a period which has seen much change. A great deal of management time and some modest cash investment has been made to improve the operational performance and competitive profile of our continuing businesses.

"For the current full year the board expects the group to report stable profitability from continuing operations."

The chairman said Napier Brown Foods, the group's sugar division, had become even more dominant, in terms of both turnover and profits, and that the board wanted to make the most of changes in the sugar market's structure. Napier Brown is the UK's third largest sugar trader.