Some good points from rns26 May 2021 11:44
Net Debt (excluding lease liabilities) of £271.3m at 26 March 2021, a reduction of £79.2m since the end of FY20 and underpinned by an equity placing in November 2020 raising gross proceeds of £90m
· Strong liquidity position with cash and undrawn committed debt facilities of £302.0m at period end, and H1 21 Net Debt: EBITDA covenant waived
Recent revenue momentum supported by new business wins secured during the last 12 months representing annualised pre-COVID revenues of approximately £175m, facilitated in part by a two year capital investment of approximately £30m across three manufacturing sites
Encouraging revenue momentum in the first seven weeks of H2 21, with pro forma revenue in food to go categories running at approximately 123% above prior year levels and approximately 14% below the equivalent pre-COVID levels in FY19. For this period the Group's pro forma revenue was approximately 64% above prior year levels and approximately 5% below equivalent pre-COVID levels in FY19