Pre-close Trading Update

RNS Number : 2813W

Real Good Food PLC

26 April 2016

 

Strictly embargoed until: 07.00: 26 April 2016

Real Good Food plc

("the Company" or "Real Good Food")

Pre-Close Trading Update

Real Good Food plc (AIM:RGD) announces a pre-close trading statement ahead of the publication of its results for the year ended 31^st March 2016.  The Company is pleased to confirm that it expects to report EBITDA for the full year in line with current consensus expectations. 

As previously indicated, Real Good Food will be reporting an exceptional profit for the period, including £9.4m as a result of the sale of Napier Brown for total consideration of £44.4m.  This exceptional profit means that the Board expects statutory Profit Before Tax for the year to be approximately £13.9m.

The sale of Napier Brown resulted in a substantial improvement in the Group's net debt position, and the Group expects to report net debt as at 31 March 2016 of £5.0m, compared to £30.1m as at 31 March 2015. 

The Company will announce its final results for the year ended 31 March 2016 in late July 2016.

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About Real Good Food plc

Real Good Food plc is a diversified food business serving a number of market sectors including retail, manufacturing, wholesale, foodservice and export. The Company focuses on three main markets: cake decoration (Renshaw, Rainbow Dust Colours), food ingredients (Garrett Ingredients and R&W Scott) and premium bakery (Haydens).

ENQUIRIES:

Real Good Food plc	Tel: [phone]
Pieter Totté, Executive Chairman
David Newman, Finance Director
Andrew Brown, Marketing Director
finnCap Limited (Nomad and Joint Broker)	Tel: [phone]
Matt Goode
Grant Bergman
Daniel Stewart and Company Plc (Joint Broker)	Tel: [phone]
Martin Lampshire
Belvedere Communications (PR)	Tel: [phone]
John West
Kim van Beeck

 

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