Real Good Food losses widen

Sugar and food ingredients group The Real Good Food Company saw half year losses widen due to lower sugar prices.

Overall sales at the firm fell 11 per cent in the six months to 30 June to £90.73m, while pre-tax losses rose from £1.19m to £1.29m after exceptional charges of £189,000. Overheads were £319,000 more than 2009, linked to the group’s investment in the development of its bakery ingredients and bakery divisions. Chairman Pieter Totté said the group’s earnings before interest, tax, depreciation and amortisation (Ebitda) were in line with expectations at £580,00, down from £591,000 last year. The group comprises three divisions: the Napier Brown sugar business; Renshaw bakery ingredients arm; and Haydens Bakeries. Napier Brown made a £31,000 operating profit.