TOXTETH-based ingredients manufacturer The Real Good Food Company reported better turnover, but suffered a fall in profits for the six months to September 30, today.
It generated £137.8m in sales compared with £128.2m at the same point last year.
However, pre-tax profits fell from £1.37m last time to £1.17m this year.
These are the first results published since the change in year end, which means the year end to September has never been publicly reported before.
The group comprises five key brands in Napier Brown, Europe’s biggest non-refining sugar distributor, bakery ingredient manufacturers Renshaw and R&W Scott, dairy ingredients arm Garrett Ingredients, and patisserie and desserts specialist Haydens Bakery.
It said today its key trading divisions of Napier Brown, Garrett and Renshaw all traded in line with expectations.
R&W Scott achieved a “significantly improved performance”, while Haydens showed improvements which are expected to accelerate in the second half.
Executive chairman Pieter Totté said today: “We enter the critical Christmas trading period with all businesses in a strong position to maximise commercial opportunities.
“At the same time we continue 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.”
He said further increases in the cost of commodities, in particular sugar, have impacted the group’s levels of working capital, pushing them up by £3.8m to £45.5m, but these will reduce significantly by the end of the financial year.