Supply chain chaos is a recipe for rising prices, says Finsbury Foods

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The speciality baker behind Mary Berry’s cake range has become the latest firm to warn about rising prices and lorry driver shortages.

Finsbury Food Group said that it ‘continues to face headwinds’ as it recovers from the coronavirus pandemic, although the company insisted that it would adapt ‘no matter the circumstances’.

The food industry is just one area being hammered by supply chain problems, amid a shortage of lorry drivers and soaring demand for freight capacity as the economy reopens. 

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That has pushed the cost of raw materials up and caused widespread delays.

But John Duffy, Finsbury Food’s chief executive, said yesterday: ‘We are committed to making Finsbury an even more efficient and joined- up business.’

As well as making cakes for Berry Finsbury sells cakes for Disney and Thorntons. Sales rose from £306.3million to £313.3million in the year to June 26. 

Profits rose from £2.9million to £17million. Shares were up 0.5 per cent, or 0.5p, at 95.5p.

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