RFG’s profits boosted by coffee chain acquisitions
The ASX listed Retail Food Group (RFG) has announced a record performance for the financial year ending the 30 June 2015.
The group revealed a net profit after tax of AUD $55.1 million, a 49.3 per cent jump on 2014 results.
RFG owns a number of Australian food chains including Brumby’s, Michel’s, Doughnut King and Crust Pizza.
The group’s profits were boosted with the acquisition of three coffee chains across the 2015 financial year, Gloria Jean’s, Cafe2U and Di Bella Coffee.
Brumby’s Bakery posted an earnings before interest, taxes, depreciation and amortization (EBITDA) profit of $10.8 million. This is a 11.3 per cent increase on the 2014 financial year.
Doughnut King had an EBITDA profit of $14.8 million, an 11.3 per cent increase on 2014.
Michel’s Patisserie had an EBITDA profit of $17.5 million. This is a 1.2 per cent increase on 2014 profits.
The group’s mobile coffee chains (Cafe2U and The Coffee Guy) produced a combined EBITDA profit of $2.2 million. RFG said it enhanced franchisee profitability for Cafe2U and The Coffee Guy by reducing the cost of goods, packaging and uniforms.
RFG’s other coffee stores and brands (including Gloria Jean’s, Di Bella, Esquires, bb’s and It’s a Grind) made a combined EBITDA of $23.5 million. For the 2016 financial year the group plans to invest in technological and equipment enhancements at its Castle Hill (NSW) roasting facility. There are also plans to expand Di Bella further into NSW and WA.
Crust Pizza and Pizza Capers
The group’s two pizza stores reported a combined EBITDA profit of $12.9 million, a 4.4. per cent growth on 2014.
Throughout the year online sales significantly increased for both chains. Pizza Capers saw online orders jump by 28.8 per cent (27.6 per cent of total sales).
Crust Pizza had a 14.9 per cent growth of online orders which now represent 36.8 per cent of the chain’s total sales.
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