Sugar sours Real Good Food Co
The Real Good Food Company, the sugars, ingredients and bakery group, has reported improved sales from its bakery operations but said competitive market conditions continued to affect its core sugar division.
Chairman Pieter Totté, said: "During the course of 2008, we continued to experience very difficult trading conditions, which deteriorated more significantly in the final quarter. Margins were continually under pressure from raw materials, fuel inflation and a very competitive market place."
The company's results for the year ended 31 December showed sales falling by 5.4% to £219 million, principally due to a 7% fall in sugar revenues. By contrast, bakery ingredients sales rose by 9.2% to £35 million and there was also a marginal increase in revenue at the bakery division.
