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Results: FIF

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Finsbury Food – full-year trading update, successfully mitigating the impact of the pressures?

Previously writing on UK manufacturer of cake, bread and morning goods for both retail and foodservice Finsbury Food Group (FIF), in February with the shares falling to 86p I questioned whether it was successfully mitigating the impact of pressures. The shares last closed at 68p but are currently rising above 70p on the back of a trading update, so what’s the latest?

EPIC FIF
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Finsbury Food – interims, is more than 23% profit decline ‘successfully mitigating the impact of the pressures’ then?

On 13th January a trading statement from ‘cake, bread and morning goods’ manufacturer Finsbury Food Group (FIF) emphasised “a robust H1 performance”, with sales growth to £166.5 million and that, though it “has faced persistent pressure from input cost inflation, staff shortages and other supply chain disruptions… it has been able to successfully mitigate the impact of these pressures to date”. The shares closed then at 98p and last closed at 88.5p... and are currently further lower on the back of the half-year results. What’s the story?...

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