RHM will today tell shareholders that its sales have increased by 2% in the four months to August, but will warn that its profits will be skewed to the second-half of the year.
In a trading update ahead of its annual general meeting later today, Jan du Plessis, chairman of RHM, said that although summer is RHM's quietest time of the year, its Bread Bakeries and Customer Partnerships businesses have progressed satisfactorily.
However, du Plessis added that its cakes division had offset softness in its culinary brands division, which had been affected by an exceptionally hot summer, retailer destocking and an increasingly competitive environment.
“For these reasons, as well as the impact of higher wheat prices, increased marketing spend and the timing of price increases, profit will be even more skewed to the second half than last year,” he said.
In a trading update ahead of its annual general meeting later today, Jan du Plessis, chairman of RHM, said that although summer is RHM's quietest time of the year, its Bread Bakeries and Customer Partnerships businesses have progressed satisfactorily.
However, du Plessis added that its cakes division had offset softness in its culinary brands division, which had been affected by an exceptionally hot summer, retailer destocking and an increasingly competitive environment.
“For these reasons, as well as the impact of higher wheat prices, increased marketing spend and the timing of price increases, profit will be even more skewed to the second half than last year,” he said.
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