Significant increase in first half profit
The Company’s NPAT increase on the previous corresponding period is directly attributable to the previously announced acquisitions in the second half of last calendar year, comprising Brumby’s Bakeries and Michel’s Patisserie .
Contributing to this result has also been a significant increase in total network franchise outlet revenue due to strong organic new outlet growth and same outlet sales increases across the Donut King , bb’s cafe , Brumby’s Bakeries and Michel’s Patisserie franchise systems.
CEO Tony Alford said that “the Company’s business and franchise systems are performing well, with the first half results consistent with expectations and previous guidance. Of particular note, 41 new outlet commissionings were achieved during the period across the Donut King, Brumby’s Bakeries, Michel’s Patisserie and bb’s café franchise systems - representing in excess of 50% of the full year new outlet growth forecast - whilst at the same time completing two significant acquisitions.”
“Based upon the trading and operational performance to date, we maintain a positive full year outlook for RFG as the Company progresses the physical integration process of the Michel’s Patisserie business and franchise system during the second half of FY2008.” Mr Alford said.
Results for the six month period ending 31 December 2007 will be announced to the market in late February 2008 at which time further commentary will be provided with respect to the provisional TMGA results for the 1HFY2008 as well as the allocation of earnings between pre and post acquisition.
As at 17 January 2008, there was a total of 4 franchise systems and 1050 franchised outlets under RFG’s stewardship.
The Franchise Council of Australia is a not for profit membership organisation that is the peak body representing the franchising sector in Australia.
22.01.2008
FCA Member
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