RFG’s earnings jumps 13.3% to $34.3m
They plan to launch 400 outlets by 2015.
Retail Food Group (RFG), parent company of Donut King, Brumby’s Bakery, Michel’s Patisserie, bb’s café, Esquires, The Coffee Guy, Pizza Capers, and Crust Gourmet Pizza, have announced that the company’s core net profit for financial year 2013 soared 13.3% to $34.3 million.
RFG credits the 14.8% increase in total revenue to $117.0 million and core EBIT growth of 11.7% to $55.9 million, for the recent profit result.
The company reported that even with some challenges within the Michel’s Patisserie brand system and supply-side complications within the Brumby’s Bakery brand system, the increased EBIT contribution from their coffee brands and QSR assets were able to offset the said issues.
“The Board remains confident that increasing dividend returns, together with robust share price performance post RFG’s admission to the S&P/ASX300 Index in March 2013, continue to elevate RFG as an attractive and reliable investment, well able to deliver positive outcomes for shareholders notwithstanding the continuation of both economic and retail trading headwinds”, said Colin Archer, Chairman of RFG.
The company also revealed their future plan to further the growth of their pizza outlets throughout the country with the launch of ‘Project QSR400.’
Project QSR400 is a growth strategy that aims to unveil 400 outlets by the third quarter of 2015 financial year.
