18th Dec 2020 15:30
Real Good Food PLC - Liverpool-based food producer - Pretax loss in year to March 31 narrows to GBP20.1 million from GBP26.1 million the year before. Revenue grows to GBP66.6 million from GBP61.6 million. Administrative expenses rises to GBP24.1 million from GBP15.7 million but impairment charges on goodwill lowers to GBP12.6 million from GBP18.7 million. Says Covid-19 hurt trading in the first quarter of current year, as many customers felt the impact of lockdown. However, with lockdown restrictions easing, trading has improved in both divisions with quarter three - running from October to December - with sales in line with financial 2020 and in-line with board expectations.
Chair Mike Holt says: "A lot has happened since March. Clearly, Covid-19 has impacted financial performance in the current year, and the near-term outlook continues to hold challenges due to the pandemic. However, both businesses are getting stronger and more resilient. In particular, Brighter Foods continues to grow and has further strengthened its reputation for innovation and responsiveness. For the group as a whole, Brexit ought to be more positive than negative."
Current stock price: 4.80 pence
Year-to-date change: down 17%
By Paul McGowan; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
RGD.L