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Bread goodies give sales a boost at Finsbury Food

CAKE and bread goodies maker Finsbury Food, which ended takeover talks with an unnamed third party just two weeks ago, yesterday said revenue grew over the past year despite poor trading conditions.<br /><br />Group revenue for the year to June was up eight per cent, boosted by acquisitions in the previous year, Finsbury said in a trading update.<br /><br />Sales in the smaller bread and gluten-free bakery division saw like-for-like growth of 14 per cent as the group benefited from its market-leading position in the sector.<br /><br />But this was offset slightly by a flat like-for-like performance in Finsbury&rsquo;s core cake division, due to increased promotional activity and the company rebalancing its ranges to offer more value choices to cash-strapped customers in the recession.<br /><br />Chief executive Martin Lightbody said: &ldquo;I am pleased to be able to report growth during what can only be described as a difficult trading period for the group.&rdquo;