Trading went a bit stale in the first half at cake and bread maker Finsbury Food Group PLC (LON:FIF).
Revenues in the half year to June were flat at £158mln, or up by 2.5% on a like-for-like basis, while heavy retrenchment and restructuring costs meant an interim loss of £1.3mln. Stripping out the one-offs, profits rose by 6% to £8.4mln.
READ: Finsbury Food proposing to close its London-based premium pastry goods business, Grain D'Or
The dividend goes up by 10% nonetheless and John Duffy, chief executive, said the first half performance has been resilient in the face of market-wide headwinds.
"The headwinds will persist into the period ahead,” he added but he still expected ‘steady progress’ over the remainder of the year.