Cake-maker Finsbury Food Group has received a “preliminary” approach regarding a potential offer.
Yesterday the company’s share price rose by nearly 5% to 22.5p, valuing the company at £11.6m, amid rumours of a potential takeover.
However the company moved to calm speculation and claimed that “considerable doubt” remained as to whether a firm bid would materialise.
Finsbury, which was once chaired by Lord Saatchi, makes cakes for Tesco, Asda and Sainsbury’s.
Finsbury Food Group has boosted pre-tax profits by more than 8%, helping the cake supplier take a slice out of its net debt. The manufacturer of cakes for Thorntons and Disney grew profits to £189.6m in the year to 2 July.
Cake supplier Finsbury Food Group has posted a 3% rise in pre tax profits following strong growth from its bread and free-from division.
Finsbury Food Group has revealed a boost in overall revenues of 6% for the past six months.
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