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

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