Same store growth of their existing network was tallied at 4.3%.
Oliver’s Real Food has released its results for FY 2018 ending June 30, reporting a total revenue of AUD$35.9 million compared to last year AUD$20.7 million.
The company also had an EBITDA of AUD$2.7 million this year compared to its loss of AUD$2.3 million in 2017. Same store sales also took a 4.3% growth.
They also reported a full-year net loss after tax of AUD$600,000 for FY18 compared to the AUD$2.9 million loss it had the previous year.
Revenue growth is said to be driven by the launching of nine new stores and the closing of one underperforming store. Oliver’s now operates 28 stores and has 3 new locations with signed leases and in development.
“The Directors are very confident that under the new leadership of CEO Greg Madigan, Oliver’s can continue to grow as a sustainable and profitable business, given the strength of the Oliver’s brand, the fresh and healthy food offering, the improved supply chain, revenue generating digital and technology initiatives and a clear focus on improving store operations,” Oliver’s Real Food said in their release to the Australian Securities Exchange.
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