Real Good Food PLC (LON: RGD) has reported a 20 percent rise in revenue for the year.

The group has said that the acquisition with the healthy snack maker Brighter Foods has helped to increase revenue from £107.7 million from £129.8 million.

Real Good Food bought an 84.3 percent stake in Brighter Foods last year, which added £16.1 million to the total revenue.

“Last year was one which we will look back on with little pride or satisfaction,” said Hugh Cawley, the group’s chief executive who was appointed in January and replaced Christopher Thomas.

“However, since the start of 2018, we have begun to take many of the remedial actions to turn around performance, continuing these steps beyond the financial year end.”

“Moreover, we can now see the benefits of these actions in terms of having eliminated term bank debt, much reduced costs and a greater focus on our continuing businesses, all of which provide cause for optimism for the future,” Cawley added.

Earlier this month, the cake and bakery group sold its Haydens Bakery business to Bakkavor Group PLC (LON: BAKK) in a deal worth £12 million. The group has been slimming down mode as part of a restructuring plan.

Real Good Foods has said that trading is in line with expectations for the full year.

Shares in the firm (LON: RGD) are trading up 2.35 percent at 8,70 (1444GMT).