Finsbury Food will publish its interim results on Monday
After publishing some of its half-year figures in January, investors will shift their attention to Finsbury Food Group’s ability to offset considerable input cost pressures when it publishes its interim results. The specialty baker has already said the scale of the current cost inflation is such that “further cost recovery will be required and will become inflationary in the second half and beyond”. In January, the cake and bread supplier said trading was in-line with management expectations.
It revealed total group sales revenues were £156.6m in the first half of the year, with sales in the UK bakery division 2.9pc year-on-year. Meanwhile, its overseas division grew by 31.7pc. Ahead of the interim results, Peter Smedley, of Panmure Gordon, said: “Sales growth is proving hard to achieve given little category growth, so we anticipate commentary about Finsbury’s continued appetite for further acquisitions.”
Full-year results: MD Medical Group Investments, Taptica International, MaxCyte, John Laing Infrastructure Fund, Satellite Solutions Worldwide, One Media IP Group, Phoenix Group
Interim results: Volution Group, Diurnal Group, Finsbury Food Group
Economics: Rightmove HPI m/m (UK), CBI industrial order expectations (UK), PPI m/m (GER)
UK housebuilders were in the spotlight last week after Bovis Homes received two merger proposals – from Galliford Try and Redrow – and rejected them both. This week attention turns to Bellway, as the mid-cap builder is set to unveil its interim results on Tuesday. Last month in a trading update, the FTSE 250 firm said it would build around 5pc more homes this financial year.
[“Source-telegraph”]
