Jueves, 23 Marcha, 2017

Finsbury Food cautious on grocery market outlook as profits rise

Finsbury Food Group is teaming up with Mary Berry to produce a range of nine cakes for the big supermarketsREX FEATURES Finsbury Food Group is teaming up with Mary Berry to produce a range of nine cakes for the big supermarketsREX FEATURES
Manuel Armenta | 21 Marcha, 2017, 07:19

Finsbury also announced that it would be launching a new range of cakes with Mary Berry in the second half of this year. Investors of record on Thursday, March 30th will be paid a dividend of GBX 1 ($0.01) per share on Friday, April 21st. The official announcement can be seen at this link. 428,940 shares of the company traded hands. They now have a GBX 150 ($1.83) price objective on the stock.

The firm, known for its Disney's Frozen treats, said it expects to unveil nine new products in association with the TV star, including cakes, on supermarket shelves by the summer. The company has a 50 day moving average of GBX 114.85 and a 200 day moving average of GBX 120.25. Finsbury Food Group plc has a 52 week low of GBX 102.25 and a 52 week high of GBX 139.00.

Previously on 01/20/2017, Beaufort Securities reported on Finsbury Food Group PLC (LON:FIF) held steady the target price at 140.00GBX. Finally, Arden Partners Ltd reissued a "buy" rating on shares of Finsbury Food Group plc in a research report on Wednesday, November 30th.

The UK bakery arm, which supplies cakes and bread to grocery and food service channels, weighed on revenue with sales down 2.9% to £139mln. The Company's segments include United Kingdom bakery, Overseas and Group Operations. The Company's UK Bakery segment manufactures and sells bakery products to the United Kingdom's multiple grocers and foodservice sectors. 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.