Trading Statement

RNS Number : 7695N

Real Good Food Company Plc (The)

12 September 2013

 



The Real Good Food Company plc (AIM: RGD)

AGM Statement

The Real Good Food Company plc ("the Group" or "RGFC"),  the diversified food group,  owns Napier Brown (Europe's biggest non-refining sugar distributor) as well as Renshaw and R&W Scott (bakery ingredients), Garrett Ingredients (dairy ingredients) and Haydens Bakery (patisserie and desserts).

At today's Annual General Meeting, Pieter Totté, Executive Chairman, will make the following comments:

"It is less than three months since I announced our positive trading performance for the 12 months ended 31 March 2013, with a significant improvement in profitability, EBITDA up 24% to £10.5m and especially pleasing performances at Haydens and R&W Scott.

"We were also able to report a reduction in net debt to £25.0m, down approximately 13% on the prior year, as well the completion of our refinancing exercise.

"Since then we have been focusing on the three major initiatives I shared with you:   investment in our sugar handling hub near Immingham, which will be operational in the next quarter; our focus on brands, with Whitworths gaining significant new retail listings, Renshaw's presence being established in Europe and the US, and R&W Scott implementing its retail strategy.

"Underpinning all of this, I am continuing to drive the businesses to be more market-led, investing further in sales and marketing management to help realize the growth opportunities faster and more effectively.  

"Trading performance for the first half of the year has been in line with the Board's expectations, with year-on-year trends reflecting the level of planned investment outlined above."

12 September 2013

ENQUIRIES:

The Real Good Food Company
Pieter Totté, Chairman	Tel: [phone]
Andrew Brown, Marketing Director David Newman, Company Secretary Mike McDonough, Finance Director	Tel: [phone] Tel: [phone] Tel: [phone]
Shore Capital & Corporate	Tel: [phone]
Stephane Auton Patrick Castle
Cubitt Consulting	Tel: [phone]
Gareth David Cebuan Bliss

 

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