RFG narrowly misses revised forecasted net FY17 profit
Pizza Capers food, part of the Retail Food Group
The Retail Food Group has just missed its revised forecasted net profit for its 2017 financial year.
The Retail Food Group (RFG) is responsible for a large number of quick service restaurants in Australia including Crust Pizza, Donut King, Gloria Jeans, Michel’s Patisserie, Pizza Capers and Di Bella Coffee.
In June 2017, RFG dropped its forecasted profits from a 20 per cent increase on its 2016 financial year down to a 15 per cent increase.
This week, RFG reported a net profit after tax of AUD $75.7 million, a 14 per cent increase on its 2016 financial year.
In announcing the profit results, RFG Managing Director, Andre Nell, said the company’s growing international network is extending revenue streams with 15 new international territory licences granted in the2017 financial year.
“Global licence activity not only provides immediate short term benefits on the grant of new licenses, importantly, it also contributes to building recurrent revenue streams which increase as international territories grow their outlet footprint, providing a strong platform for increased royalty and product supply earnings,” Nell said.
RFG’s coffee and allied beverages contributed AUD $42.7 million to the company’s underlying earnings before interest, tax, depreciation and amortisation.
All of RFG’s coffee and allied beverages have now been repositioned under the Di Bella Coffee brand to leverage its market reputation.
RFG said it remains optimistic for future performance with a focus on a 2020 global strategy that will leverage its increasingly diversified business model and growing global platform.
- Retail Food Group drops profit forecast
- Retail Food Group to take Donut King to Scandinavia
- RFG to answer demand for coffee in Middle East