Retail Food Group eyeing a $87.6m loss

Company News

by Rachael Jones

Retail Food Group (ASX:RFG) expects FY18 underlying NPAT to be approximately $34.5 million and statutory NPAT to be a loss of approximately $87.6 million.

This expected FY18 NPAT does not include approximately $3.0 million of anticipated international licence fee revenues that may occur before the year end, nor any potential accounting impairment adjustments that may be made as the year end accounts are being completed.

Trading performance has continued to be impacted by a combination of previously noted persistent difficult retail market conditions, planned domestic outlet closures, and ongoing negative sentiment regarding both retail franchising and RFG in particular.

The Statutory FY18 NPAT figure is also impacted by termination payments to former Managing Director, Andre Nell, and other additional one-off turnaround expenses.

Shares in Retail Food Group (ASX: RFG) trading 1.92 per cent lower at 77 cents
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.