Profits to rise to 30% FY17
​We reinstate FY17 RGF estimates, having suspended forecasts in February post the Real Good Food trading update on 1st of that month. Food manufacturing is a robust sector – as long as the producer can manage or minimise exposure to the commodity-based multiple grocery lines. A number of quoted producers have benefitted from trends, for example such as consolidation (Finsbury Foods), pork consumption (Cranswick). Real Good Food’s (RGF) underlying trends have diversity, and one main thrust is the continued rise in baking as a hobby. This offers value-add consumer demand. The road has some bumps but is fruitful.
Real Good Food operates in three markets, being cake decoration, food ingredients and premium bakery. Co.'s cake decoration division manufactures, sells and supplies cake decorating products and ingredients through its Renshaw, Renshaw Europe, Renshaw Americas, and Rainbow Dust Colours units. Co.'s food ingredients division manufactures and supplies a range of food ingredients from bagged sugar and dairy powders to chocolate coatings and jams through its units: R&W Scott, Garrett Ingredients, and Brighter Foods. Co.'s premium bakery division manufactures and supplies cakes and desserts to the retail and foodservice sectors through its business units Haydens, and Chantilly Patisserie.
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