Real Good Food PLC AGM Statement (6940N)
26 Septembre 2019 - 8:00AM
UK Regulatory
TIDMRGD
RNS Number : 6940N
Real Good Food PLC
26 September 2019
26 September 2019
Real Good Food plc
("RGF" or "the Group")
AGM Statement
Real Good Food plc will hold its Annual General Meeting ("AGM")
at 11.00am today at St Magnus House, 3 Lower Thames Street, London,
EC3R 6HD. At the AGM, Mike Holt, Non-Executive Chairman of RGF,
will make the following statement:
"Trading in the new financial year within Food Ingredients has
been very positive leveraging the recent investment in a new
manufacturing line which has almost doubled the capacity. New
business is being secured and Brighter Foods continues to invest in
new product development, working closely with its principal
customers. Meanwhile, trading within Cake Decoration has been
challenging, particularly in the US market. However, the Board
remains confident that the actions being taken to improve customer
service levels, product quality and operational efficiencies should
deliver sales and margin growth, in markets that are generally
flat.
The Board believes that the Group is well positioned to make
further progress, improving operating profit significantly this
year. The issues of recent years have largely been resolved.
Shareholder debt remains high, reflecting the historic issues of
the Group, but has now stabilised, and has been modestly reduced in
recent months. The Group will continue to seek to repay shareholder
loans as soon as cash flow backed lending becomes available from
commercial sources."
Ends
Enquiries:
Real Good Food plc Tel: 0151 541 3790
Mike Holt, Executive Chairman
Maribeth Keeling, Chief Financial Officer
finnCap Limited (Nomad and Broker) Tel: 020 7220 0500
Matt Goode / Carl Holmes / James Thompson
(Corporate Finance)
MHP Communications (Financial PR) Tel: 020 3128 8100
Reg Hoare / Katie Hunt rgf@mhpc.com
About Real Good Food
Real Good Food plc is a food manufacturing business serving a number
of market sectors including retail (own label and private label),
manufacturing and export. The Company has two businesses, Cake
Decoration (Renshaw and Rainbow Dust Colours) and Food Ingredients
(Brighter Foods), with leading brands in their chosen markets.
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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