26th Apr 2016 08:22
LONDON (Alliance News) - Real Good Food PLC on Tuesday said earnings before interest, tax, depreciation and amortisation in its full financial year will be in line with current consensus expectations.
The ingredients and baking products company had warned in February that Ebitda for the year ended March 31 would be flat year-on-year due to heavy investments it had made, meaning profit would miss market expectations at the time.
On Tuesday, Real Good Food said that its pretax profit for the full year will be around GBP13.9 million, including a GBP9.4 million benefit from the sale of the Napier Brown business. It suffered a GBP3.5 million pretax loss the year before.
Real Good Food added that the sale of Napier Brown also resulted in a substantial improvement in net debt, which fell to GBP5.0 million as at March 31, 2016 from GBP30.1 million a year before.
Real Good Food will announce its full-year results in late July.
Shares in Real Good Food were trading up 5.1% at 42.55 pence on Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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