REAL Good Food yesterday announced a 15 per cent sales increase over the year, with strong results in the sectors of sugar retail, baking ingredients and its bakery division, Hayden’s.
Hayden’s reported a rise in sales to all three of its major customers; Marks & Spencer, Waitrose and Costa Coffee. Meanwhile, food service sales, which were only launched in 2008, accounted for almost 10 per cent of total 2009 revenue.
Real Good Food managed to reduce bank borrowings from £29.1m to £21.3m.
The firm’s success was helped by a resurgence last year in home baking and crafting as consumers developed a “make your own” mentality during the recession.
Chairman Pieter Totté said: “I am delighted by the progress we have made over the past year in developing new sales, expanding our product ranges and broadening our customer base. After a strong start to the current year, it gives me confidence that we are well placed to build on this progress.”