Retail Zoo's profits soar 24% to $17.6m
Their earnings growth rockets to double digits.
Retail Zoo, parent company of Boost Juice Bars, Boost International, Salsa’s Fresh Mex Grill, and CIBO Espresso, reported that the company achieved another double-digit EBITDA growth for the 2012/2013 financial year.
“Retail Zoo has had five years of double digit EBITDA growth which we never take for granted. It’s our complete focus on continual improvement that keeps us grounded, hard-working and responsive,” said Scott Meneilly, Retail Zoo CEO.
Retail Zoo’s EBITDA is at $17.6 million with bottom line growth of 24 per cent, during the past twelve months.
With the company’s acquisition of CIBO Espresso last December 2012, network sales revenue rose by 30 per cent, resulting to an annual turnover of $221 million compared to $170 million this time last year.
A total of 22 CIBO Espresso stores in Adelaide and Brisbane is accounted in the company’s network.
The company also reported that Salsa’s Fresh Mex Grill performed strongly within the Mexican food sector in the industry, with its network sales increasing from $28.6 million to $39.6 million. Salsa’s also had a 34 per cent growth increase in top line sales, with 28 per cent growth in their number of stores.
In addition, Retail Zoo reported that a total of 58 new stores opened in their networks of brands from 1st of July 2012 to 30 June 2013.
“The outlook for 2014 is optimistic. While political unrest tends to bring uncertainty with it, we see the coming 12 months a time of growth for Retail Zoo. We’ve taken time to transition CIBO so we can expand into Melbourne, Sydney and Brisbane.
“Franchise enquiries are tracking nicely and we’re planning solid, conservative growth of the espresso bar concept. We plan to open one store per month for the next 12 months,” added Meneilly.
