Change of Accounting Reference Date

RNS Number : 1304F

Real Good Food Company Plc (The)

19 April 2011

 



The Real Good Food Company plc (AIM: RGD)

Change of Accounting Reference Date

The Real Good Food Company plc ("the Group"), owns the largest independent non-refining distributor of sugar in Europe (Napier Brown) and is a supplier of bakery ingredients (Renshaw) and a manufacturer of sweet bakery products (Haydens) for a range of major retail customers.

The board of directors of RGFC plc announces that the Group is changing its accounting reference date from 31 December to 31 March. 

The board has taken this decision to better align the reporting timeline of the Group with the seasonality of its individual businesses. In particular, both the Renshaw and Napier Brown businesses are highly seasonal, with the October to December period being especially busy, such that the second half of the calendar year accounts for 80-90% of their respective annual profitability. Hayden's, our bakery business, whilst not having as pronounced a skew as this also experiences a peak sales period between October and December.

At the moment the Group is faced with preparing annual budgets and projections before the key trading period of the current year is complete. By moving away from a December year end, it should be possible to improve both the quality and accuracy of our budget and "investor reporting" process.  

As a result of the change of accounting reference date, the Group's reporting calendar over the next two years will be as follows:

§  Unaudited interim results for the six months to 30 June 2011, to be published by 30 September 2011

§  Second unaudited interim results for the six months to 31 December 2011, to be published by 31
  March 2012

§  Audited results for the year ending 31 March 2012, to be published by 30 June 2012

§  Unaudited interim results for the six months to 30 September 2012, to be published by 31 December
  2012

19 April 2011

ENQUIRIES:

The Real Good Food Company plc	Tel: [phone]
Pieter Totté, Chairman
Mike McDonough, Group Finance Director
Shore Capital	Tel: [phone]
Stephane Auton
College Hill	Tel: [phone]
Gareth David

 

END

 

 

NARDKFDKABKDQQD