It appears that 2018 wasn’t a sweet year for cake maker Finsbury Food Group (FIF). Total group sales fell 3.5 per cent to £152m during the first half, and increased by just 0.5 per cent to £146m on a like-for-like basis. The prior year had benefited from the closure of the lossmaking Grain D'Or bakery in London in October 2017.
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Management said like-for-like sales growth of 1.7 per cent from its core UK bakery business was achieved “despite a difficult macro environment with sustained inflationary pressure”. Meanwhile, overseas sales fell 8 per cent.
