Finsbury Foods has racked up a record £200m in sales after a year of robust growth.

The bakery group said sales were up 9.4% over the year to 30 June, with growth coming from both the cake and bread and free-from divisions.

“The group has come a long way to achieve annual sales of over £200m for the first time despite very challenging market conditions,” said Finsbury chief executive John Duffy.

However, growth slowed towards the end of the financial year, as the company reached the anniversary of product launches and contract gains from last year.

Finsbury added it had increased prices because of the increased cost of key ingredients such as sugar and eggs.