Finsbury Food Hikes Interim Dividend With First-Half Revenue Flat

Cornelia Mascio
Marzo 21, 2017

Finsbury Food Group's sales failed to rise in the first half, but the baker on Monday said it is hoping a new tie-up with cake queen Mary Berry will pull in customers during a "challenging" time.

Shares of Finsbury Food Group plc (LON:FIF) traded down 1.77% during midday trading on Monday, reaching GBX 111.00. The firm's market capitalization is GBX 140.74 million.

A number of other research firms have also recently commented on FIF.

Panmure Gordon today set a target price of 150 on the company's stock. Finsbury Food Group plc has a 52 week low of GBX 102.25 and a 52 week high of GBX 139.00.

Finsbury Food Group PLC (LON:FIF) has a 50 day moving average of 114.5 and a 200 day moving average of 120.43.

There are now 126,789,000 shares in issue with a current share value of 113.2 giving Finsbury Food Group PLC a market capitalisation of 143.53M GBp. Arden Partners Ltd reissued a "buy" rating on shares of Finsbury Food Group plc in a research note on Wednesday, November 30th. The Company's UK Bakery segment manufactures and sells bakery products to the United Kingdom's multiple grocers and foodservice sectors. The Company is engaged in producing a range of cakes, bread and bakery snack products for retailers and the foodservice channel.

United Kingdom bakery operating profit, however, rose 2.2% to £7.4mln while overseas operating profit increased 26% to £1.0mln, supported by higher margins in both divisions. The Overseas segment is engaged in the distribution of the Company's product manufactured in the United Kingdom along with the sale of third party products primarily to Europe.

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