Finsbury invests in bakery divisions as sales drops

first_imgCake and bread manufacturer Finsbury Food Group has revealed group sales revenues dropped to £175.7m from £176.6m the previous year, following the sale of its free-from business in February last year.Second half growth in the UK bakery business reversed the first half decline and sales for the year were broadly flat at £153.7m in the report to the year ending 28 June 2014. Sales in Lightbody Europe, the group’s 50%-owned European business have declined by 1.2% for the full year to £22m. However, the business is in good shape with a shift to higher margins.Profit levels are ahead of last year as a result of introducing actions to increase sales via market activity as well as reduce costs via the benefits from capital investment and overhead reduction programme implemented in the second half. These actions also helped against ongoing cost inflation.In line with its stated strategy, Finsbury has doubled capital investment to more than £6m in the year.Within the UK bakery division, cake capital investment projects successfully completed in the year included the new single serve cake slice ‘snap pack’ line as well as the largest cake bites robotic picking installation in the world. The Nicolas and Harris speciality bread facility expansion, delivering 60% additional space, has also been successfully commissioned and is now fully operational.John Duffy, chief executive, said: “Our continued capital investment programme is heralding positive signs and we are encouraged by the contribution that this has made. Although cost inflation keeps margins under pressure, the strategies we have in place have mitigated against this and with more favourable profit dynamics; we are well placed to take advantage of the market as it improves.”last_img read more

Hughton hails Norwich response

first_imgNorwich manager Chris Hughton praised his players after they delivered the “ideal response” to their Anfield nightmare by claiming a 2-0 win at West Brom. Press Association It is now one win in nine games for the Baggies and Steve Clarke’s side were booed off at full-time. The midweek hiding against a Luis Suarez-inspired Liverpool had put Canaries boss Hughton’s position under scrutiny, but he was delighted with the way his side bounced back to secure an away win for just the second time this season. “It was the ideal response,” he said. “We have done that a couple of times this season and it has to be down to the players as after a Wednesday game you don’t have too much time to prepare. “Most of it is video work and going through some set-plays but physically you do not have a lot of time to work on anything. So it has to be a response from the players and we got that. “We put ourselves under a lot of pressure, particularly in that final half an hour, but it is a clean sheet. “Going into that last period of the game they were either going to come back and get a draw or a win or we were going to break and get the second and that’s what happened.” But Hughton does not believe the result takes the pressure off him. He said: “The pressure is always there, it is part and parcel of the game. As soon as the good feel of this win goes it’s about the pressure of getting the next result. It is part and parcel of the game.” Gary Hooper scored the opener in the 13th minute, smashing an unstoppable drive into the top corner, before Leroy Fer finished off a sharp counter late on to seal a 2-0 victory. West Brom had countless chances to take at least a point with Stephane Sessegnon twice failing to convert great opportunities and Shane Long also guilty of being profligate in front of goal. The defeat drops West Brom to within two points of the relegation zone and Baggies boss Steve Clarke was left bemoaning his side’s inability to convert a series of second-half chances. He said: “We created a lot of chances but we did not get the goal. We made it difficult for ourselves conceding the goal which came from a throw-in and was a soft goal. “It gave Norwich something to hang on to. We created enough chances but could not get the goal that would change the game in our favour.” Clarke also refused to blame Sessegnon for his misses or criticise referee Mark Clattenburg for failing to spot an apparent handball by Martin Olsson. Olsson appeared to block a close-range effort from Sessegnon with his hand but there were no concerted appeals from the Albion players and Clattenburg did not point to the spot. Clarke said: “You have to keep faith in him, you have to keep believing in him. “That’s the type of player Stephane is. He got in some great positions and contributed a lot to the team performance today, on another day he would have had a couple of goals. “The one chance was going in the net, it hit Martin Olsson on the hand which stopped it going in. “Whether the referee saw it or not does not help us. I am not sat here crying about a penalty decision because it’s a tough one to call but the ball was going in the net, so it’s hard to say it was a miss. “The other one is a chance he had. He rolled it six inches outside the post, he should have rolled it six inches inside the post, but these things happen.” last_img read more

Interwetten continues management refresh appointing Lukas Reichl as sponsorship lead

first_img Interwetten named main sponsor for Greek Super League August 4, 2020 Share StumbleUpon Share SAZKA confident of European comeback as assets weather COVID-19 storm June 12, 2020 Lukas Reichl – InterwettenDACH region online betting group Interwetten Sports, continues its senior management restructure, announcing the appointment of Lukas Reichl as new Sponsorship & Public Relations lead.Reichl joins Interwetten leadership from Sportradar Austrian live sports streaming platform LAOLA1, where he formerly served as Head of Sponsorship for Austria, overseeing the management of key partnerships with Austrian ice hockey, basketball and handball federations.The executive has further marketing experience, having served as an account manager for Vienna-based advertising agency EEP Werbeagentur, handling the multi-media accounts of Subaru DACH, Samsung Austria and Stroh Rum.Lukas Reichl commented on joining Interwetten – “Over the last few years, I have come to know the Austrian and international sponsoring and sports landscape very well. Interwetten has been one of the best-known bookmakers in Austria and Germany for many years and also very successful. Being able to incorporate my sponsoring experience and approaches in such an active company is a very exciting task for me. ”In 2019, Interwetten one of Europe’s oldest online betting brands has moved to restructure its leadership team, with fresh industry faces.Last January, Interwetten majority shareholder Wolfgang Fabian announced the appointment of Sportradar marketing executive, Dominik Beier as new Chief Executive.Aged 27, Beier is the betting industry’s youngest CEO, with Interwetten governance stating that the company was undertaking a much-needed generational change in leadership following the departure of long-term incumbent Werner Becher. Interwetten signs Yakubu as first Nigeria ambassador July 14, 2020 Submit Related Articleslast_img read more