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Retail Food Group Announces 5.7% Increase in NPAT

Retail Food Group Announces 5.7% Increase in NPAT

Leading Australian retail food brand manager and franchisor, Retail Food Group Limited (RFG or the Company) today announced a 5.7% increase in core NPAT to $27.9m and an increased final dividend of 7.5cps or 15.4%. Statutory NPAT rose 4.6% to $27.2m.

RFG recently acquired the 47 outlet Esquires Coffee Houses. The integration of the Esquires New Zealand network has already achieved practical completion and the Company is well advanced in terms of tailoring the Esquires offer to the Australian market, with the first Queensland Esquires outlet to be commissioned by November.

RFG has continued to build upon and enhance its proprietary coffee business by increasing green bean roasting in FY11 by 10% to circa 780 tonnes. This asset class has been fortified by the recently announced acquisition of the New Zealand company Evolution Coffee Roasters Group (“Evolution”) which is scheduled for settlement in early September and provides further vertical and horizontal integration opportunity.

“Evolution is a retail brand owner and operator of a state-of-the-art coffee roasting facility in Auckland which manufactures and distributes 170 tonnes of premium coffee annually throughout New Zealand, Asia and the Middle East”, Mr Alford said.

ENDS

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