UK firm The Real Good Food Company has reported a £9.6 million year-on-year increase in first-half revenues led by gains in the company's bakery ingredients and sugar businesses.
Revenue reached £137.8 million in the half ending 30 September but EBITDA slipped to £3.023 million - down £69,000 year-on-year. Higher fixed costs and R&D investment dented the company's margins as profit before tax dipped £200,000 to £1.173 million.
Stand-out performers were The Real Good Food Company's Renshaw bakery ingredients, Napier Brown sugar, R&W Scott bakery ingredients and jam and Haydens bakery brands.
"We enter the critical Christmas trading period with all businesses in a strong position to maximise commercial opportunities," said Pieter Totté, The Real Good Food Company's executive chairman.
"At the same time, we are continuing to develop our medium-term growth plans, and I am confident the group will deliver results for the year as a whole in line with market expectations."
The firm added that it had reduced its net debt by £1.7 million to £32.1 million, despite a 9.4% rise in working capital to £45.5 million.
