Share Name Share Symbol Market Type Share ISIN Share Description
Finsbury Food Group Plc LSE:FIF London Ordinary Share GB0009186429 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50p -0.77% 64.50p 63.00p 66.00p 65.00p 64.50p 65.00p 39,990 12:01:44
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 303.6 4.5 1.7 37.9 83

Finsbury Food Group PLC Change of Auditor

31/05/2019 7:00am

UK Regulatory (RNS & others)


Finsbury Food (LSE:FIF)
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RNS Number : 6790A

Finsbury Food Group PLC

31 May 2019

Finsbury Food Group Plc

("Finsbury" or the "Company" or the "Group")

Change of Auditor

The Company announces that, following a competitive tender process, PricewaterhouseCoopers LLP ("PwC") has been appointed as auditor to the Group for the financial year ended 30 June 2019. PwC's appointment will be recommended to shareholders for approval at the 2019 Annual General Meeting.

KPMG LLP, the Company's outgoing auditor, has confirmed to the Company that there are no matters connected with it ceasing to hold office that need to be brought to the attention of members or creditors of the Company for the purposes of section 519 of the Companies Act 2006.

The Company would like to thank KPMG for its work with the Group over the past 11 years.

- ENDS -

For further information:

 
 Finsbury Food Group 
  John Duffy (Chief Executive) 
  Steve Boyd (Finance Director)    www.finsburyfoods.co.uk    029 20 357 500 
                                          Cenkos Securities 
                                     Max Hartley (Corporate 
                                                   Finance)   0207 397 8900 
 Alma PR 
  Rebecca Sanders-Hewett 
  Sam Modlin                       finsbury@almapr.co.uk      020 3405 0205 
 

Notes to editors:

-- Finsbury Food Group Plc (AIM: FIF) is a leading UK manufacturer of cake and bread bakery goods, supplying a broad range of blue chip customers within both the grocery retail and 'out of home eating' foodservice sectors including major multiples and leading foodservice providers.

-- The Company is one of the largest speciality bakery groups in the UK and, with its Overseas division, has sales in the financial year ending 30 June 2018 exceeding GBP300m.

   --      The Company's bakery product range is comprehensive and includes: 

o Large premium and celebration cakes.

o Small snacking cake formats such as cake slices and bites.

o Artisan, healthy lifestyle and organic breads through to rolls, muffins (sweet and savoury) and morning pastries, all of which are available both fresh and frozen dependent on customer channel requirements.

-- The Company is one of the largest ambient cake manufacturers in the UK, a market valued at over GBP950 million (source: IRI, 52 w/e 8(th) December 2018). The annual retail bread and morning goods market has a value of GBP4.4 billion (source: Kantar Worldpanel 52 weeks to 30(th) December 2018). The UK foodservice bread and savoury morning goods bakery sector is worth approximately GBP743 million per annum (source: derived from MCA data for 52 weeks to 30(th) September 2018). The UK foodservice cake and sweet morning goods bakery sector is worth approximately GBP913 million per annum (UK foodservice data derived from MCA data for 52 weeks to 30(th) September 2018).

   --      The Company comprises a UK Bakery division and an Overseas division: 

o The UK Bakery division has manufacturing sites in Cardiff, East Kilbride, Hamilton, Salisbury, Sheffield, and Manchester.

o The Overseas division comprises the Company's 50% owned company, Lightbody Stretz Ltd, which supplies and distributes the Group's UK-manufactured products and third party products, primarily to Europe.

-- Since the year end date of 30 June 2018, the Company completed the acquisition of Free From baker Ultrapharm, giving the Group a significant opportunity to access an exciting and high growth marketplace and manufacturing facilities in Pontypool in the UK and in ywiec, Poland.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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May 31, 2019 02:00 ET (06:00 GMT)

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