Finsbury cakes rise

Reporting on the four months to the end of October, the manufacturer of cake, bread and morning goods, said revenue continued to grow year on year with sales for the 20 weeks to mid November 11% ahead of the corresponding period last year. In September, Finsbury said it was seeking to recover increases in input costs from its customers. But while price increases were being implemented, many costs continued to rise and remain significantly higher than they were at the start of 2007. The second largest supplier in the cake market said it would continue to provide consumers with value for money and look to grow market share by developing key retailer own brand relationships and an increased focus on the major brands like Thorntons, WeightWatchers, Disney and Nestlé. “We will have a clearer understanding of our year end position when we provide a further update in the new year, following the Christmas trading period and taking account of the latest consumer trends,” it said. Chief executive Martin Lightbody, said: "There is no doubt that this has been a demanding trading period for the group, with recovery of input price inflation proving more difficult than we anticipated. Trading between now and the financial year end remains difficult to predict given uncertain customer and consumer behaviour. However, I am confident that, as commodity prices ease and our internal efficiency programs are delivered, the group will be better placed to meet the challenges which lie ahead."