SUPERMARKET cake and bread supplier Finsbury Food eyed a boost from Royal Wedding and Easter celebrations as it looks for some respite from difficult trading conditions.
The firm is being buffeted by soaring commodity costs and cautious consumer spending, but said the run of bank holidays next month should bode well for cake sales as Britons plan a host of street parties and events to mark the wedding between Prince William and Kate Middleton.
Finsbury reported a 3% hike in pre-tax profits to £1.9m for the six months to January 1, helped by a strong performance from its Bread and ‘Free From’ products and a return to growth at its larger cake division.
It said trading trends had been maintained since the half-year, with sales in its cake arm up 6% and overall group sales up 5.7% to £87.8m from £82.9m in 2010.
Finsbury cautioned it saw no let up from soaring cost inflation and would keep a tight rein on costs to minimise price rises.
