11 Nov 2015 09:24
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Don't have an account? Click here to register.Real Good Food warns earnings could fall short of market views
Tue, 06th Dec 2016 10:51
(ShareCast News) - Diversified food business Real Good Food said its pre-tax loss widened in the six months to the end of September and warned there was a risk its year-end earnings before interest, tax, depreciation and amortisation could miss market expectations.The company reported a loss before tax of £949,000 compared to £216,000 the year before as administrative expenses rose to £10.2m from £8.8m.Total group sales were up 5% to £49m, driven mostly by the performance of the Premium Bakery division, alongside the successful integration of Chantilly.However, the Food Ingredients business struggled with volatile commodity pricing and adverse currency movements.Executive chairman Pieter Totte said: "We have continued to make good progress on developing our growth strategies in each business division. With the exception of Garrett Ingredients where the dairy and sugar markets have continued to be difficult, exacerbated by recent currency fluctuations, trading performance has been broadly in line with the board's expectations."The company said sales trends in the key third quarter are in line with expectations to date and it expects significant year-on-year growth in EBITDA in the second half.However, it warned of challenges due to the recent depreciation of the pound and increased raw material prices."This, as well as the uncertainty in commodity pricing in particular at Garrett Ingredients, means that, while we expect our year end EBITDA to be ahead of last year, there is a risk that it could fall short of current market estimates."At 1100 GMT, the shares were up 6.7% to 35p.
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15 Sep 2015 06:38
7 Aug 2015 14:14
Real Good Foods widens losses, optimistic after Napier Brown sale
(ShareCast News) - Real Good Foods (RGF) declined after posting a wider loss before tax, but said it remains confident of the future. The pre-tax loss more than doubled to £3.5m from £1.5m the same time last year, while revenue declined 14.6% to £232.9m. The company said the year ended 31 March was
Read more22 Jul 2015 08:18
Real Good Food FD Mike McDonough to step down
(ShareCast News) - Real Good Food, the AIM-listed diversified food company, has announced its group finance director Mike McDonough will leave the business with effect from 31 August. Giving details in a statement on Wednesday, the company said after the sale of Napier Brown Sugar unit for £34m to F
Read more22 Jul 2015 07:38
4 Jun 2015 08:10
Real Good Food appoints new managing director at Rainbow Dust Colours
Real Good Food, the bakery products manufacturer and supplier, has appointed a new managing director for its Rainbow Dust Colours brand. David Grieve, who will take over the role from June, has 25 years of experience in the sugarcraft, bakery and cake decoration markets. Grieve was previously a mark
Read more1 Jun 2015 11:56
Shares in Real Good Food jump following successful Napier Brown divestment
Real Good Food expects a positive performance at its Renshaw and Haydens brands to help full-year earnings following a profit warning last month. The bakery products manufacturer and supplier said net sales would come in at £104m, while earnings before interest, taxes, depreciation, and amortisation
Read more29 Apr 2015 09:27
UPDATE 1-France's Tereos to buy British sugar distributor Napier Brown
* Napier Brown's brands include Whitworths Sugar * Puts Tereos in better position for opening of European market (Adds details throughout, Tereos statement) By David Brough and Sybille de La Hamaide LONDON/PARIS, April 29 (Reuters) - French sugar maker Tereos has agreed to buy
Read more29 Apr 2015 08:20
Tereos to buy sugar distributor Napier Brown
LONDON, April 29 (Reuters) - French sugar maker Tereos has agreed to buy sugar distributor Napier Brown Sugar Ltd, a unit of Real Good Food, for 34 million pounds ($52.27 million) plus working capital in cash on completion of the sale, Real Good Food said in a statement on Wednesday. A gen
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