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Finsbury Foods profit falls in H1 on pandemic impact
StockMarketWire.com
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Bakery goods manufacturer Finsbury Foods reported a fall in first-half profit as revenue was hurt by a pandemic fueled hit to foodservice amid ongoing government Covid-19 restrictions.
For the six months ended 26 December 2020, pre-tax profit fell 16.1% to £7.4 million year-on-year as revenue declined by 4.1% to £152.9 million.
The company pledged to review the dividend, which remains suspended, for the year ending 26 June 2021 over the coming months.
Looking ahead, the company said the macroeconomic environment looks set to remain uncertain for the year ahead driven by the Government's fast-changing responses to Covid-19 and a likely recessionary environment thereafter.
'As we move into the second half, we maintain our focus on delivering organic growth, capitalising on the emerging trends in areas such as artisan and Free From...' the company said.
At 8:39am: (LON:FIF) Finsbury Food Group PLC share price was 0p at 61p
Story provided by StockMarketWire.com
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