Southport / AU. (rfg) Leading Australian retail food brand manager and franchisor Retail Food Group Limited (RFG) announced FY 2009 NPAT of 23,5 million AUD, a 33 percent (or 5,9 million AUD) increase on FY 2008. NPAT from «Core Operations» was 23,4 million AUD, up 52 percent (or 8,0 million AUD) on the result achieved in FY 2008. EPS was 23,7 cents compared to 19,9 cents in FY 2008, while EPS from «Core Operations» was 23,6 cents, representing an increase of 35,6 percent over EPS from «Core Operations» in FY 2008. Highlights:
Summary Financial Details | FY 2009 | FY 2008 | Percent Change |
Total Revenue | 130,5 million AUD | 114,1 million AUD | 14,4 percent |
EBIT (Profit before interest and tax) | 40,3 million AUD | 34,4 million AUD | 17,2 percent |
NPAT (Net profit after tax) | 23,5 million AUD | 17,6 million AUD | 33,4 percent |
EPS (Earnings per share – basic) | 23,7 cps | 19,9 cps | 19,1 percent |
EPS from «Core Operations» | 23,6 cps | 17,4 cps | 35,6 percent |
Dividend (paid or payable) | 09,25 cps | 08,5 cps | 08,8 percent |
Net Debt | 90,6 million AUD | 113,7 million AUD | (20,3 percent) |
Franchised Outlets | 1’063 | 1’052 |
RFG Chairman John Cowley: «Retail Food Group has achieved exceptional full year results, enhancing its position as an innovative franchisor able to deliver profitable and sustainable outcomes for all stakeholders notwithstanding challenging economic conditions. The Company has achieved a number of key milestones in 2009. Not only has the disposal of the Central Manufacturing Facility released capital and provided an additional revenue stream but as well secured long term quality product supply to our franchisee community».
- Final dividend increased to 4,75 cps fully franked (full year dividend 9,25 cps fully franked)
- Strong net cash inflow from operating activities of 23,2 million AUD (75 percent growth on FY 2008)
- EBIT growth of 17,2 percent underpinned by:
- continued operational cost rationalisation and franchise system synergy enhancement, and
- increased EBIT contribution of acquired franchise systems (Brumby´s Bakeries and Michel´s Patisserie) as well as original systems (Donut King and bb´s cafe)
- Total debt reduced by further 21,8 million AUD (or 18,5 percent) in FY 2009
- 59 new outlets commissioned in FY 2009
- Continued international expansion in China with opening of four outlets in FY 2009
- Disposition of Central Manufacturing Facility (CMF) completed
- Consolidation of coffee roasting operations
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