REG - Real Good Food PLC - Trading Update

Real Good FoodAnnouncement

14/02/2022 07:00

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RNS Number : 4999B  Real Good Food PLC  14 February 2022

14 February 2022

Real Good Food plc

("RGF" or "the Group")

Trading Update

Real Good Food Plc (AIM:RGD), the diversified food business, announces a
trading update for its current financial year ending 31 March 2022 to date.

The Group entered its seasonally busier second half of the year in good shape
and the Board had expected to report on further progress being made after a
solid start to the year. Sales in December and January, however, have been
much lower than anticipated due to severe shortages, and erratic deliveries,
of certain ingredients and services, compounded by high absence rates because
of the omicron variant, which affected our ability to fulfil customer
orders. We believe that these issues are short term ones and will ameliorate
in the coming months.

As reported in the half year results in December 2021, revenue and EBITDA in
the first half were both well ahead of last year's first half performance,
with revenue back to pre-covid levels (H1 FY20). Revenue for the second half
of the year is expected to be at a similar level to the second half of last
year, despite a pick-up in sales to the Wholesale sector. International sales,
which had been expected to show double digit growth are going to be marginally
below last year's numbers.

Overall, with increased costs during the second half of the year, the Group is
expected to make a small profit at EBITDA level broadly similar to underlying
EBITDA reported in the prior year.  Cash at the half year was £2.7m, a
modest cash inflow is expected to be reported for the second half of the year.

The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014.

 

 

Enquiries:

 Real Good Food plc                                 Tel: 0151 541 3790

 Mike Holt, Chairman

 Maribeth Keeling, Group Finance Director

 finnCap Limited (Nomad and Broker)                 Tel: 020 7220 0500

 Carl Holmes / James Thompson (Corporate Finance)

 MHP Communications (Financial PR)                  Tel: 020 3128 8793

 Reg Hoare / Katie Hunt                             rgf@mhpc.com

 About Real Good Food

 Real Good Food plc is a food manufacturing business serving several market
 sectors including retail (own label and private label), manufacturing and
 export.  The Company has two businesses, Cake Decoration (Renshaw and Rainbow
 Dust Colours) and Food Ingredients (Brighter Foods), with leading brands in
 their chosen markets. http://www.realgoodfoodplc.com
 (http://www.realgoodfoodplc.com/)

 

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