Finsbury Food profit eaten into

Finsbury Food Group has blamed a challenging environment and rising costs for declining full-year revenue.

The cake and bread manufacturer, which employs hundreds of workers at its Scottish sites, said that revenue fell 3.4 per cent to £303.6 million in the year to 30 June. The company’s core UK bakery division grew 2.8 per cent on a likefor-like basis in the period, ahead of the wider market.