Retail Food Group finds added success from Hudson Pacific acquisition
An Australian Donut King store
The Retail Food Group (RFG) has posted net profits after tax of $33.5 million for the first half of its 2017 financial year.
This is a 17.3 per cent increase on its first half results for its 2016 financial year results.
RFG is responsible for a number of Australian quick-service food and drink franchises including Donut King, Crust pizza, Gloria Jean’s, Brumby’s, Pizza Capers and Michel’s Patisserie.
Colin Archer, RFG Chairman, said the results were in-part a reflection of the group’s success with its acquisition of the Hudson Pacific Corporation, a business which delivers bulk food products to the hospitality industry.
“The acquisition of Hudson Pacific Corporation, completed in September 2016, heralded the further evolution of RFG into a genuine full service food and beverage company, possessed of a diversified and global operating platform which offers an abundance of opportunity and scope for lasting shareholder rewards,” Archer said.
Franchise footprint grows
RFG commissioned 138 new outlets across its domestic and international networks, resulting in a global total of 2, 556 outlets for the group by 31 December 2016.
“A significant focus for the Company has been fortification of key business drivers to realise lasting positive change,” Managing Director of RFG, Andre Nell said.
“Leveraging cutting-edge technology, strategic third party collaborations and a strong motivation to innovate across product, store design and promotional platforms, the company has implemented a number of initiatives programmed to drive CY17 performance,” Nell stated.
Coffee and beverage success
RFG said its coffee and allied beverage division achieved a number of milestones throughout the first half of the financial year including a 6.4 per cent increase in coffee contribution to the group’s earnings before interest, taxes and amortisations.
“A strategic long term driver of growth within the coffee space is the leveraging of new foodservice channels for penetration of RFG’s coffee and allied beverage products,” Nell said.
“Initiatives to realise this opportunity are underway, with bespoke foodservice offers focused on that market,” Nell said.
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