Baked goods maker Finsbury Foods whisks up dividends for June
Baked goods maker Finsbury Food had a stronger second half to its financial year, the group said this morning, expecting a profit before tax of at least £15m.
Its profit before tax is ahead of market expectations, the cake maker said, as it prepares to reintroduce its dividend for the year ending 26 June 2021.
After a golden morning on the market, Finsbury Food shares continued to soar 5.92 per cent in the afternoon’s trading, sitting at 89.5p per share.
The cake and bread maker focussed on improving its manufacturing line efficiency and cutting waste throughout its bakeries across Cardiff, East Kilbride, Hamilton, Salisbury, Sheffield, Manchester, and Pontypool.
The group confirmed last month a partnership with TGI Fridays for a traybake cake, which will also be rolled out across Asda and Morrison’s this summer.
One of the largest speciality bakery groups in the UK, last year the group reported sales north of £306m.