Baker Finsbury Food Group looks to YouTube star JoJo Siwa for sales rise

Finsbury Food Group has posted a first half sales rise

Finsbury Food Group on Monday said it is hoping a new cakes range inspired by teen YouTube personality JoJo Siwa can boost sales for the baker in a “challenging” grocery market.

Boss John Duffy said the launch in the next few months was expected to be “strong”.

The Aim-listed manufacturer has been grappling with currency fluctuations and higher costs. In the 26 weeks to December 30 alone butter prices doubled from a year earlier.

It increased some prices and managed to boost first-half revenues by 0.7% to £157.8 million. Pre-tax profits jumped 6.3% to £8.4 million.

It declared an interim dividend of 1.1p per share, up 10% on 2016.

Duffy said: “ The investment into the business that we have implemented over this and previous years, alongside a focus on operational excellence, has positioned us well and enabled us to continue to deliver robust results. “

Simon French at house broker Cenkos said: “Whilst headwinds are expected to persist, we believe the group is well placed to continue to grow profitably.”