Real Good Food PLC Trading Update (4999B)
14 Février 2022 - 7:59AM
UK Regulatory
TIDMRGD
RNS Number : 4999B
Real Good Food PLC
14 February 2022
14 February 2022
Real Good Food plc
("RGF" or "the Group")
Trading Update
Real Good Food Plc (AIM:RGD), the diversified food business,
announces a trading update for its current financial year ending 31
March 2022 to date.
The Group entered its seasonally busier second half of the year
in good shape and the Board had expected to report on further
progress being made after a solid start to the year. Sales in
December and January, however, have been much lower than
anticipated due to severe shortages, and erratic deliveries, of
certain ingredients and services, compounded by high absence rates
because of the omicron variant, which affected our ability to
fulfil customer orders. We believe that these issues are short term
ones and will ameliorate in the coming months.
As reported in the half year results in December 2021, revenue
and EBITDA in the first half were both well ahead of last year's
first half performance, with revenue back to pre-covid levels (H1
FY20). Revenue for the second half of the year is expected to be at
a similar level to the second half of last year, despite a pick-up
in sales to the Wholesale sector. International sales, which had
been expected to show double digit growth are going to be
marginally below last year's numbers.
Overall, with increased costs during the second half of the
year, the Group is expected to make a small profit at EBITDA level
broadly similar to underlying EBITDA reported in the prior year.
Cash at the half year was GBP2.7m, a modest cash inflow is expected
to be reported for the second half of the year.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
Enquiries:
Real Good Food plc Tel: 0151 541 3790
Mike Holt, Chairman
Maribeth Keeling, Group Finance Director
finnCap Limited (Nomad and Broker) Tel: 020 7220 0500
Carl Holmes / James Thompson (Corporate
Finance)
MHP Communications (Financial PR) Tel: 020 3128 8793
Reg Hoare / Katie Hunt rgf@mhpc.com
About Real Good Food
Real Good Food plc is a food manufacturing business serving several 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. http://www.realgoodfoodplc.com
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END
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