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Finsbury Food Group Plc (AIM: FIF)  terrific numbers but can they keep it going?

21/09/2015 · Finsbury Food Group (FIF) 

The UK speciality bakery manufacturer of cake, bread and morning goods which has been on a bit of growth spurt announced terrific results for the year ending 27th June 2015. It’s certainly been an impressive period for the Group which is now one of the largest speciality bakery groups in the UK with annualised revenues of approximately £300m. We just wonder if they keep up the momentum in the face of growing pressure from their key customers, the beleaguered supermarket groups. The signs are looking good although we normally prefer the brand focused food producers.

Group revenue was £256.2m up 45.8% or 6.1% on a like-for-like basis, excluding the impact of acquisitions. Adjusted operating profit was up 61% to £12.4m and 20% on a like-for-like basis with the Group operating profit margin 4.8% (2014: 4.4%). Adjusted diluted EPS was up 22% to 7.7p suggesting an historic earnings multiple of 13x and dividend yield of 2.5%.

Operating profit of £9.5m resulted in an impressive…

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