Own-label cake manufacturer Finsbury Food Group has reported an 89% increase in full-year pre-tax profit to £4.4m on sales up 50% at £109.8m.

The figures were boosted by the company's acquisition of Lightbody Cakes in February this year, although its three main divisions - Memory Lane Cakes, its Scottish cakes business and Nicholas and Harris - all recorded double-digit sales growth.

There was currently “significant turbulence” in the dairy and flour markets, added chairman Lord Saatchi, but costs had been passed on via higher selling prices.

“The commodity raw materials market remains unstable and we will continue to work with our customers to adjust selling prices as those markets move,” he said.