EBITA margin doubles in two years, then more
​Current trading is encouraging, as announced with full year results on 7th August, and at the AGM convened today. Real Good Food has transformed its prospects through corporate action over the past nine months. The market has yet to catch up with this. Even more importantly, the mix of business is biased to higher margin and growth markets – added to which export markets are being more systematically addressed recently. We therefore see significant long term growth prospects after the initial significant margin expansion for FY16E and FY17E.
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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