Retail Food Group profit rises despite trading difficulties

Retail Food Group profit rises despite trading difficulties

Multibrand meals chain franchisor Retail Food items Group (RFG) says tax-paid profit greater more than threefold to $5.3 million despite a difficult trading setting. 

The firm owns and operates Gloria Jean’s, Crust Connoisseur Pizza, Donut King, Brumby’s Bakery, Cafe2U Michel’s Patisserie, Pizza Capers and The Coffee Guy. 

Earnings before revenue and taxes rose 4.6 for every cent to $17.3 million whilst very same-store revenue grew 2.3 per cent in contrast to the past yr.

Its intercontinental division – Grasp Franchise Associates (MFPs) and Di Bella Coffee – contributed $3.2 million to EBITDA even though savoring a “positive” internet outlet expansion of 14 new suppliers during the next half of the yr.

RFG govt chairman Peter George described the group’s functionality as a “creditable result” provided the impact of Covid.

“The company continues to check out several alternatives to aid successful and sustainable enlargement by means of new web-sites and retail principles even though also leveraging current bricks and mortar stores to harness virtual retail store opportunities to develop purchaser charm,” he stated.

RFG opened 9 new outlets for the duration of the 12 months offset by the closure of 112 stores – which include 27 cell models – 69 of which transpired all through the peak Covid period of time. 

The firm mentioned a robust pipeline of extra than 80 candidates has been formulated for both new and existing outlets with 16 stores at development phase.