Oliver’s reports improve June performance

However, it is prepared to close underperforming restaurants in the future.

Oliver’s Real Food reported an improvement in earnings before interest, taxes, depreciation, and amortisation (EBITDA) was $603k higher at positive $356k in June 2025 compared to negative $247k last year.

According to its latest financial report, FY2025 January to June 2025 net profit before tax was a loss of $327k; however, this was a major improvement from $2.06m loss from the same time last year.

Oliver’s said its sales were impacted by the closure of two restaurants in Lithgow and Coffs Harbour. EG Royalty income was lower, and extreme rainfall also impacted sales in May.

Meanwhile, Easter falling in April netted a positive for the brand’s sales. Adjusting for these impacts, same-store sales this quarter were $145k (2.36%) lower compared to the corresponding quarter in 2024.

“Expenses were 13.9% lower ($645k), which is a direct result of efficiency and cost reduction initiatives undertaken over the last 12 months, including employment costs, which were 20% lower ($440k),” Oliver’s financial statement said.

Meanwhile, Oliver’s also said that should any store continue to underperform, despite all efforts, the decision is then taken to close that store.

“Whilst we acknowledge this comprises drastic action, the Board has resolved that if a smaller footprint is how the business becomes consistently profitable, we will take this step, thereby creating an improved foundation on which to build the future brand expansion,” it said.

The company maintains that it remains in a challenging trading environment but expects improvements in the quarters ahead.