Fletchers Bakeries has returned to profit after its 2014 acquisition by Finsbury Food.
The morning goods & specialist bread supplier reported a pre-tax trading profit of £5m in the 15 months to 27 June 2015 after a loss of £2m in the year to 29 March 2014.
The return to the black was a combination of growth and a sharp drop in one-off costs after Fletchers took a £2.6m hit on the closing of its Barnsley site in 2014.
Finsbury bought Fletchers in October 2014 for £56m. Writing in the accounts, Fletchers group FD Paul Devlin said the increased turnover was “due to strong growth in both foodservice and retail sectors, with significant new business gains”.
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