Scroll down for a quick summary of this year’s Annual Report. You can view specific sections or download the full report as a PDF.

View and download the full report

Financial Highlights

Group PerformanceMeasures

Statutory Measures

Group Revenue
£ 313.3 m
up 2.3%
Adjusted EBITDA*1
£ 26.9 m
up 2.5%
Adjusted Operating Profit*1
£ 16.1 m
up 7.8%
Adjusted Profit*1 Before Tax
£ 15.1 m
up 10.2%
Adjusted Basic EPS
9.1 p
up 15.2%
Capital Investment
£ 6.2 m
up 31.6%
Net Debt (excl leases)
£ 13.1 m
down 50.4%
£ 29.0 m
Operating Profit
£ 18.2 m
Profit before Tax
£ 17.0 m
Basic EPS
9.8 p
Net Debt (incl. leases)
£ 23.7 m

*1 The Group uses Alternative Performance Measures (APMs) which are non-IFRS measures to monitor performance of its operations and of the Group as a whole. These APMs along with their definitions are provided Adjusted EBITDA, Operating Profit and Profit Before Tax tables on the previous page and the tables in the Financial Review Section. APMs are disclosed as, in the opinion of the Board, this will allow shareholders to gain a clearer understanding of the trading performance of the Group.

Adjusted EPS has been calculated using profit, excluding amortisation of intangibles, significant non-recurring and other items as shown in the tables on the previous page net of associated taxation. In the opinion of the Board, the adjustments made will allow shareholders to gain a clearer understanding of the trading performance of the Group.

*2 Measures that do not vary are shown in the first column only

Chairman's Statement



Chairman's Statement

The robust performance delivered by the Group for the full year ended 26 June 2021 is testament to the resilience of our business, the strength of the management team, the efforts of the whole Finsbury team and our well-defined strategy.

Peter Baker
Non-Executive Officer
18 September 2021

chevron View full section chevron View full report

Chief Executives Report



Chairman's Statement

It is testament to the hard work and commitment of our teams that we have been able to successfully manage and adapt the business, resulting in year-on-year revenue growth and a total sales figure almost at pre-pandemic levels.

John Duffy
Chief Executive Officer
18 September 2021

chevron View full section chevron View full report

Our Purpose

People love the high-quality products we make. They are essential parts of their daily lives and offer enjoyable treats and choices for every occasion. So, we are committed to building the leading speciality bakery group - because baking brilliance makes every day special.

Our Purpose video Play

Our Operating Principles

To achieve baking brilliance, we have to constantly raise standards and work effectively as a Group. The Finsbury Operating Principles are a set of practical commitments and guidelines for how we run our business, and which bring our strategy to life in our day-to-day work.

Operating Excellence


We continually invest in our bakeries to improve our efficiency and customer satisfaction.

Sustainable Approach


We optimise our use of resources and focus on reducing waste throughout our supply chain and in our bakeries.

Quality and Innovations


Our innovative, high-quality bakery products reflect changing customer needs and anticipate key market trends.

Cost Effectiveness


We maintain strict cost controls without compromising quality, streamlining our processes from sourcing to delivery.

Growth with Our Partners


Through long-term relationships with our customers and suppliers, and an understanding of their needs, we can all enjoy profitable growth.

People Who Care


We invest in our people, who take personal pride in their contribution to our success, and are strong advocates of our business and products.

Our Business Model

Our vision is to be a leading speciality bakery group, producing a broad range of high-quality products targeted at growing channels and market niches, which deliver growth and differentiation for our customers while fulfilling the needs of end consumers.

The Resources
We Employ
chevron View Our Business Model
Operating Principles
in Action
chevron View Our Business Model
Creating Value
chevron View Our Business Model