Writing in the company's annual report published yesterday, Pieter Tiotte admitted the strategy of getting R&W Scott into shape as a standalone business was still in its early stages.
However he said: "Progress is encouraging."
R&W Scott, which employs more than 70 people, had seen its turnover dip from almost £11 million to £9.14m with operating profits reversing from £166,000 to £66,000.
However that was put down to investment in products, sales and marketing alongside an exit from some low-margin work.
The annual report said: "The transition from a manufacturing site to a standalone business is almost complete with the recruitment of local finance resource now under way. Most of the overhead increase required to make this transition has now taken place."
R&W Scott, which is headed by managing director John Easton, said the current financial year will see it start a major industrial jams and sauces contract.
There will also be retail launches in jam, sauces and chocolate spreads.
It said: "Many of these new products are being sold both in retail and business to business channels.
"An export drive is also under way focusing on the multi-packs of jam and opportunities are being sought with Real Good Food Europe."
The business is also working on a brand strategy to make more of its Scottish heritage.
The annual report showed Mr Tiotte received £139,000 for the 12 months to March 31 this year, up from £66,000.
Finance director Mike McDonough received £253,000, down from £267,000.
Alternative Investment Market-listed Real Good Food's other divisions include sugar distributor Napier Brown, bakery ingredients supplier Renshaw, dairy ingredients arm Garrett and patisserie and baking specialist Haydens.