22 February 2021 - interim results

The speciality bakery products group has announced interim results for the six months to 26 December 2021 and these are pretty respectable given the effect of the pandemic.  Revenue for the period was down just 4.1% compared with the previous year at £152.9m although pre-tax profits declined by 16.1% to £7.4m.  Earnings per share fell to 4.1p (2019: 4.9p) and there is no dividend.  Net debt at the period end was £21.5m down from £32.6m a year earlier.  These are good results in the circumstances although . . .

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