Announcement • Feb 26
Retail Food Group Limited Announces Board Appointments Retail Food Group Limited announced the following: The Board has appointed Abigail Cheadle as an independent Non-Executive Director of the Company, such appointment to take effect following release of the Company's 1H26 results later this week. Ms. Cheadle is an experienced Chartered Accountant with a 30+ year track record of board and executive leadership across listed companies, government bodies and global professional services firms. Having served on the Board of 10 ASX-listed entities, twice as Chair and multiple times as Audit & Risk Committee (ARC) Chair, Abigail has expertise in financial oversight, transformation governance, and commercial strategy across a range of sectors. Ms. Cheadle currently chairs the Shriro Holdings Limited Board of Directors and is also a non-executive Director and ARC Chair of Advanced Innergy Holdings Limited; LGI Limited; and Reef Casino Trust. Former directorships include Novatti Limited; Isentia Group Limited; SurfStitch Group Limited; DXN Limited; Booktopia Group Limited and QANTM Intellectual Property Limited. Abigail is also a member of the Australian Institute of Company Directors (AICD) and holds a Bachelor of Business (Accounting) from the Queensland University of Technology. The Board has appointed Gary Brinkworth as a Non-Executive Director of the Company, such appointment to take effect following release of the Company's 1H26 results later this week. Mr. Brinkworth is a nominee director of Riguad Pty Ltd, a substantial shareholder in RFG, which is controlled by United Petroleum co-founders Avi Silver and Eddie Hirsch (UPL). Due to his association with UPL, Mr. Brinkworth is not considered independent. Mr. Brinkworth is an experienced Chief Executive Officer and company director with significant familiarity across large-scale retail and property operations, both locally and internationally. He was most recently Chief Executive Officer and Board Director of Herron Todd White and has previously served as Group Chief Executive Officer of United Petroleum. In addition, Mr. Brinkworth has also held key senior executive roles at Coles Group, BP and Incitec Pivot Limited. He currently serves on the Board of Scope Australia, a large-scale disability services provider, and chairs Scope's Finance and Sustainability Committee. Gary will also assume the roles of Chairman of the United Petroleum `Group of Companies' and Executive Director Real Estate for that group in early March 2026. Gary holds a degree in Economics and is a graduate of the Australian Institute of Company Directors (AICD). Having regard to the initiatives outlined in the Company's announcement of 3 February 2026, the Board has suspended its search for a new CEO at this juncture and formalised an extension of Mr. George's employment as Executive Chairman. Price Target Changed • Feb 05
Price target decreased by 7.9% to AU$2.33 Down from AU$2.53, the current price target is an average from 3 analysts. New target price is 87% above last closing price of AU$1.25. Stock is down 40% over the past year. The company is forecast to post earnings per share of AU$0.15 next year compared to a net loss per share of AU$0.24 last year. Announcement • Feb 03
Retail Food Group Limited to Report First Half, 2026 Results on Feb 26, 2026 Retail Food Group Limited announced that they will report first half, 2026 results on Feb 26, 2026 Announcement • Jan 29
Retail Food Group Limited Announces Resignation of Non-Executive Director David Grant, Effective January 29, 2026 Retail Food Group Limited announced that David Grant has resigned as a non-executive director of the Company, effective January 29, 2026. Mr. Grant has been Chairman of RFG’s Audit & Risk Management Committee and joined the Board contemporaneously with RFG Executive Chairman, Peter George, in September 2018. He is the longest serving of RFG’s non-executive Directors. Mr. Grant has provided extensive experience, balance and pragmatism during a period of significant change for the Company, remaining independently minded and focused on the interests of the Company’s stakeholders. Board Change • Jan 08
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Jacinta Caithness was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 08
Retail Food Group Limited Appoints Mark Lindh as Non-Executive Director Retail Food Group Limited announced the appointment of Mark Lindh as a Non-Executive Director of the Company. Mark Lindh is an experienced public company director and corporate advisor with significant experience in advising predominantly listed companies encompassing a range of industries including technology, energy, resources, infrastructure and utilities. He is a founder and principal of AE Advisors, an investment house established in 2006, and has acted as the principal corporate and financial advisor to a number of Australian corporate success stories. Mark Lindh has extensive experience in Australian equity and debt markets and advising clients on capital raisings, mergers and acquisitions and investor relations. In addition, Mark Lindh is a Chairperson and Non-Executive Director of ASX-listed companies Maggie Beer Holdings Limited, Aerometrex Ltd. and Whitebark Energy Ltd, and a Non-Executive Director of ASX-listed company, Bass Oil Ltd. His appointment further complements the breadth of capability and experience on the Board that will serve the Company well in the future. Recent Insider Transactions • Aug 31
Non-Executive Chairman recently sold AU$523k worth of stock On the 26th of August, Peter George sold around 335k shares on-market at roughly AU$1.56 per share. This transaction amounted to 81% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Peter's only on-market trade for the last 12 months. Reported Earnings • Aug 20
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: AU$0.24 loss per share (down from AU$0.094 profit in FY 2024). Revenue: AU$137.9m (up 10% from FY 2024). Net loss: AU$14.9m (down 358% from profit in FY 2024). Revenue missed analyst estimates by 24%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Hospitality industry in Australia. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 10% per year. Announcement • Aug 13
Retail Food Group Limited to Report Fiscal Year 2025 Results on Aug 20, 2025 Retail Food Group Limited announced that they will report fiscal year 2025 results After-Market on Aug 20, 2025 Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to AU$2.31, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 18x in the Hospitality industry in Australia. Total loss to shareholders of 14% over the past three years. Reported Earnings • Feb 21
First half 2025 earnings released: EPS: AU$0.12 (vs AU$0.069 in 1H 2024) First half 2025 results: EPS: AU$0.12 (up from AU$0.069 in 1H 2024). Revenue: AU$69.6m (up 20% from 1H 2024). Net income: AU$7.33m (up 74% from 1H 2024). Profit margin: 11% (up from 7.3% in 1H 2024). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Hospitality industry in Australia. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Price Target Changed • Feb 19
Price target decreased by 14% to AU$3.60 Down from AU$4.20, the current price target is an average from 2 analysts. New target price is 80% above last closing price of AU$2.00. Stock is down 33% over the past year. The company is forecast to post earnings per share of AU$0.21 for next year compared to AU$0.094 last year. Announcement • Feb 12
Retail Food Group Limited to Report First Half, 2025 Results on Feb 19, 2025 Retail Food Group Limited announced that they will report first half, 2025 results on Feb 19, 2025 New Risk • Dec 11
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$4.49m (US$2.86m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (AU$4.49m market cap, or US$2.86m). Minor Risk Large one-off items impacting financial results. Announcement • Nov 05
Retail Food Group Limited (ASX:RFG) agreed to acquire Cibo Espresso Australia Pty Ltd from Retail Zoo Pty Ltd. for AUD 2.7 million. Retail Food Group Limited (ASX:RFG) agreed to acquire Cibo Espresso Australia Pty Ltd from Retail Zoo Pty Ltd. for AUD 2.7 million on November 4, 2024.The transaction will be financed through cash on hand.
The expected completion of the transaction is in mid FY25. Announcement • Oct 25
Retail Food Group Limited, Annual General Meeting, Nov 28, 2024 Retail Food Group Limited, Annual General Meeting, Nov 28, 2024. Location: the anna rose room 1, level 4, robina events centre, tafe queensland, 94 laver drive, robina, queensland, Australia Reported Earnings • Aug 21
Full year 2024 earnings: Revenues in line with analyst expectations Full year 2024 results: Revenue: AU$114.9m (up 3.2% from FY 2023). Net income: AU$5.80m (up AU$14.7m from FY 2023). Profit margin: 5.0% (up from net loss in FY 2023). Revenue was in line with analyst estimates. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Hospitality industry in Australia. Announcement • Aug 05
Retail Food Group Limited to Report Q4, 2024 Results on Aug 20, 2024 Retail Food Group Limited announced that they will report Q4, 2024 results on Aug 20, 2024 Announcement • May 03
Retail Food Group Limited Enters into A Binding Deed to Settle the Class Action Retail Food Group Limited has entered into a binding deed to settle the class action commenced against it and two of its related entities in the Federal Court of Australia (Court) in October 2021 by a former franchisee of the Michel's Patisserie brand system on behalf of certain Michel's Patisserie franchisees, former franchisees and their related parties (class members). The settlement, which remains subject to Court approval, involves a dismissal of the proceeding by the applicant without RFG making any admission or any payment to the applicant, to any class member or towards the applicant's or the litigation funder's costs of the proceeding. The settlement includes releases by the applicant and class members in favour of RFG and its related respondent entities. RFG has agreed to release applicable class members from historical debts alleged in the proceeding. This release will have no financial impact on RFG's Fiscal Year 2024 results. RFG is pleased to have resolved the class action on this basis. Price Target Changed • Mar 23
Price target decreased by 10.0% to AU$0.11 Down from AU$0.13, the current price target is an average from 4 analysts. New target price is 52% above last closing price of AU$0.074. Stock is up 7.2% over the past year. The company is forecast to post earnings per share of AU$0.0063 next year compared to a net loss per share of AU$0.0041 last year. Reported Earnings • Feb 22
First half 2024 earnings released: EPS: AU$0.002 (vs AU$0.001 loss in 1H 2023) First half 2024 results: EPS: AU$0.002 (up from AU$0.001 loss in 1H 2023). Revenue: AU$58.0m (up 1.6% from 1H 2023). Net income: AU$4.22m (up AU$5.31m from 1H 2023). Profit margin: 7.3% (up from net loss in 1H 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Hospitality industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Announcement • Feb 12
Retail Food Group Limited to Report First Half, 2024 Results on Feb 20, 2024 Retail Food Group Limited announced that they will report first half, 2024 results on Feb 20, 2024 Announcement • Dec 01
Retail Food Group Limited (ASX:RFG) entered into an agreement to acquire Beefys Pies for AUD 10 million. Retail Food Group Limited (ASX:RFG) entered into an agreement to acquire Beefys Pies for AUD 10 million on November 30, 2023. Announcement • Oct 28
Retail Food Group Limited, Annual General Meeting, Nov 30, 2023 Retail Food Group Limited, Annual General Meeting, Nov 30, 2023, at 11:00 E. Australia Standard Time. Location: The Anna Rose Room #1, Level 4 Robina Events Centre, TAFE Queensland, 94 Laver Drive Robina Queensland Australia Agenda: To receive and consider the financial statements of the Company, together with the Directors' and Auditor's reports, for the financial year ended 30 June 2023; to Remuneration report; to consider Approval of a Previous Issue of Ordinary Shares; and to consider other matters. Board Change • Sep 29
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director David Grant was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 25
Retail Food Group Limited Announces the Appointment of Jacinta Caithness as Non-Executive Director Retail Food Group Limited announced the appointment of Jacinta Caithness as a Non-Executive Director of the Company. Jacinta has over 20 years’ experience in the retail industry and has worked with some of Australia’s leading brands. She developed the franchise strategy and recruitment methodology for Boost Juice and Salsas at Retail Zoo, appointing over 160 franchisees within the domestic network over a five-year period. Later, as CEO International and Board member, Jacinta expanded the Boost business globally with the appointment of 18 master franchisees across 36 countries on 5 continents. She is an experienced nonexecutive director having served on the boards of Ventura Bus Lines since October 2016 and ASX listed Silk Laser Australia Limited since April 2022. Jacinta also serves on the Advisory Boards for Keiser Australia and Hattch, and was formerly a member of the Advisory Boards established by Schnitz, Empty Esky and Fuse Recruitment. Ms. Caithness will stand for election at RFG’s 2023 Annual General Meeting later in the year. Reported Earnings • Aug 23
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: AU$0.004 loss per share (down from AU$0.002 profit in FY 2022). Revenue: AU$111.4m (up 8.6% from FY 2022). Net loss: AU$8.95m (down 284% from profit in FY 2022). Revenue exceeded analyst estimates by 29%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Hospitality industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Announcement • Aug 14
Retail Food Group Limited to Report Q4, 2023 Results on Aug 23, 2023 Retail Food Group Limited announced that they will report Q4, 2023 results on Aug 23, 2023 Price Target Changed • Jun 16
Price target decreased by 20% to AU$0.12 Down from AU$0.15, the current price target is provided by 1 analyst. New target price is 140% above last closing price of AU$0.05. Stock is up 19% over the past year. The company is forecast to post earnings per share of AU$0.0064 for next year compared to AU$0.0023 last year. Announcement • Jun 15
Retail Food Group Limited Announces CEO Changes Retail Food Group Limited announced the appointment of Matthew Marshall to the role of Chief Executive Officer (CEO), effective 1 July 2023. Matt will drive the realisation of growth opportunities and sustainable value creation for the Company's stakeholders. Matt is promoted from his current position as Head of Retail where he has been responsible for driving strong operational outcomes in difficult retail environments, including through the Covid-19 pandemic. Matt has an extensive knowledge of all aspects of the Company's business and has played a vital role in implementing franchisee first and customer centric values and strategy. Further details on the outlook and strategy will be presented alongside year 2023 results in August 2023. Peter George will continue in an Executive Chairman role for a further 2 years during which he will focus on specific strategic growth projects as well as mentoring and supporting Matt to ensure a successful and orderly succession. Mr. George noted the time was right to implement an orderly succession process. CEO elect Matt Marshall said it was a privilege to be provided the opportunity to lead the Group on the next stage of its journey and build upon the momentum across RFG's business. Buying Opportunity • Mar 03
Now 22% undervalued Over the last 90 days, the stock is up 9.9%. The fair value is estimated to be AU$0.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Feb 28
First half 2023 earnings released: AU$0.001 loss per share (vs AU$0.002 profit in 1H 2022) First half 2023 results: AU$0.001 loss per share (down from AU$0.002 profit in 1H 2022). Revenue: AU$57.1m (up 14% from 1H 2022). Net loss: AU$1.09m (down 123% from profit in 1H 2022). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Hospitality industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 129 percentage points per year, which is a significant difference in performance. Announcement • Jan 31
Retail Food Group Limited Appoints Rob Shore as Chief Financial Officer, Effective 17 April 2023 Retail Food Group Limited announced the appointment of Mr. Rob Shore as Chief Financial Officer, effective 17 April 2023. Mr. Shore is a chartered accountant with over 20 years' experience in senior finance roles both domestically and in the United Kingdom. He will join RFG from his most recent role as Chief Financial Officer of ASX-listed EML Payments Limited, where he played a key role in the development and execution of group strategy and led the transformation of their global finance function. Prior to joining EML, Mr. Shore held senior finance roles in the Asia Pacific businesses of US listed Valmont Industries Inc. Announcement • Dec 24
Retail Food Group Limited Resolves Federal Court of Australia Proceeding Commenced by the Accc Against It and Certain of Its Related Entities Retail Food Group Limited announced that it has agreed to resolve the Federal Court of Australia proceeding commenced by the ACCC against it and certain of its related entities, which was originally announced on 15 December 2020 and which has been the subject of periodic updates by the Company. The parties have agreed that the proceeding will be dismissed, without RFG: making any admission as to the ACCC's allegations in the proceeding; paying any pecuniary penalty; or being subject to any injunction, disclosure or adverse publicity order. As part of the agreed resolution, RFG has entered into an undertaking with the ACCC under section 87B of the Competition and Consumer Act 2010 (Cth). Pursuant to that undertaking, RFG will pay an agreed discrete sum to, and waive certain prior debts owing by, relevant franchisees who acquired corporate stores, calculated based on their individual dealings with the Company, and also pay an agreed sum to certain franchisees in connection with the Michel's Patisserie marketing fund. RFG has also agreed to contribute towards the ACCC's legal costs. The total amount that is to be paid to franchisees by RFG under the undertaking is $8,035,055. The total amount of franchisee debts to be waived under the undertaking is $1,819,763. A copy of the undertaking is enclosed. RFG's interests have always been and remain connected to its valued franchise partners. RFG considered that the resolution of historical matters the subject of the ACCC's proceeding on these terms will allow it -- under the recently announced extended leadership of Peter George -- to maintain its forward-looking focus. This includes the continued development, implementation and enhancement of commercial initiatives designed to improve its franchise system for the benefit of all stakeholders. The Company will continue to report on the outcome of those initiatives. Price Target Changed • Nov 16
Price target decreased to AU$0.083 Down from AU$0.13, the current price target is an average from 2 analysts. New target price is 47% above last closing price of AU$0.056. Stock is down 25% over the past year. The company is forecast to post earnings per share of AU$0.0083 for next year compared to AU$0.0023 last year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. CEO & Executive Chairman Peter George was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 28
Retail Food Group Limited, Annual General Meeting, Nov 30, 2022 Retail Food Group Limited, Annual General Meeting, Nov 30, 2022, at 11:00 US Eastern Standard Time. Location: at the Chairman's Club, Metricon Stadium Nerang Broadbeach Road Carrara Queensland Australia Agenda: To receive and consider the financial statements of the Company, together with the Directors' and Auditor's reports, for the financial year ended 1 July 2022; to consider Remuneration report; to consider Re-election of Director; to consider Renewal of Proportional Takeover Approval Provisions; to consider Approval of the grant of Performance Rights to Peter George, CEO and Executive Chairman of the Company; to consider Amendments to the Company's Constitution to allow for virtual and hybrid meetings; and to consider other matters, if any. Reported Earnings • Aug 25
Full year 2022 earnings released: EPS: AU$0.002 (vs AU$0.004 in FY 2021) Full year 2022 results: EPS: AU$0.002 (down from AU$0.004 in FY 2021). Revenue: AU$102.6m (down 6.0% from FY 2021). Net income: AU$4.86m (down 35% from FY 2021). Profit margin: 4.7% (down from 6.8% in FY 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is expected to shrink by 8.2% compared to a 34% growth forecast for the Hospitality industry in Australia. Over the last 3 years on average, earnings per share has increased by 127% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Announcement • Aug 04
Retail Food Group Limited Announces Leaving of Peter McGettigan, Chief Financial Officer Retail Food Group Limited announced that, following ten years in his role as Chief Financial Officer (CFO), Peter McGettigan will be leaving the Company. Mr. McGettigan will depart RFG later in FY23 to pursue other opportunities but will assist the Company to ensure an orderly transition to a new CFO. RFG Executive Chairman Peter George noted that Mr. McGettigan, who first commenced with the Company in early 2009 before being promoted to the CFO role in February 2012, had made a significant contribution to RFG. Major Estimate Revision • Jun 22
Consensus revenue estimates fall by 14% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from AU$81.8m to AU$70.4m. EPS estimate fell from AU$0.01 to AU$0.01 per share. Net income forecast to grow 319% next year vs 28% growth forecast for Hospitality industry in Australia. Consensus price target of AU$0.083 unchanged from last update. Share price rose 7.3% to AU$0.044 over the past week. Price Target Changed • Apr 27
Price target decreased to AU$0.13 Down from AU$0.14, the current price target is provided by 1 analyst. New target price is 97% above last closing price of AU$0.066. Stock is down 8.3% over the past year. The company is forecast to post earnings per share of AU$0.0061 for next year compared to AU$0.0035 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. CEO & Executive Chairman Peter George was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Mar 02
Consensus revenue estimates fall by 12% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from AU$93.4m to AU$81.8m. EPS estimate fell from AU$0.01 to AU$0.01 per share. Net income forecast to grow 343% next year vs 42% growth forecast for Hospitality industry in Australia. Consensus price target down from AU$0.14 to AU$0.13. Share price was steady at AU$0.07 over the past week. Reported Earnings • Feb 25
First half 2022 earnings: EPS and revenues miss analyst expectations First half 2022 results: EPS: AU$0.002 (down from AU$0.004 in 1H 2021). Revenue: AU$49.9m (down 11% from 1H 2021). Net income: AU$4.68m (down 46% from 1H 2021). Profit margin: 9.4% (down from 15% in 1H 2021). Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 80%. Over the next year, revenue is expected to shrink by 15% compared to a 38% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 142% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Price Target Changed • Feb 24
Price target decreased to AU$0.13 Down from AU$0.14, the current price target is provided by 1 analyst. New target price is 86% above last closing price of AU$0.07. Stock is down 1.4% over the past year. The company is forecast to post earnings per share of AU$0.006 for next year compared to AU$0.0035 last year. Board Change • Nov 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. CEO & Executive Chairman Peter George was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 26
Full year 2021 earnings released: EPS AU$0.005 (vs AU$0.011 in FY 2020) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2021 results: Revenue: AU$109.1m (down 52% from FY 2020). Net income: AU$7.44m (down 48% from FY 2020). Profit margin: 6.8% (up from 6.4% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 26
First half 2021 earnings released: EPS AU$0.004 (vs AU$0.053 in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: AU$52.5m (down 27% from 1H 2020). Net income: AU$8.62m (down 70% from 1H 2020). Profit margin: 16% (down from 40% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 67% per year, which means it is significantly lagging earnings. Announcement • Dec 16
ACCC Commences Proceedings in the Federal Court Against Retail Food Group Limited and Five of Its Related Entities The ACCC has commenced proceedings in the Federal Court against Retail Food Group Limited and five of its related entities (Retail Food Group), alleging the food and beverage franchise company engaged in unconscionable conduct and made false or misleading representations in its dealings with franchisees, in breach of the Australian Consumer Law. Retail Food Group manages and operates a number of franchises, including Michel's Patisserie, Brumby's Bakery, Donut King and Gloria Jean's Coffee. The ACCC alleges that Retail Food Group acted unconscionably and engaged in false, misleading and deceptive conduct when it sold or licensed 42 loss-making corporate stores to incoming franchisees between 2015 and 2019. It is alleged that Retail Food Group withheld important financial information from the incoming franchisees who were purchasing or licensing the loss-making corporate stores, and made false or misleading representations to them about the viability or profitability of the stores. In documents issued to incoming franchisees, Retail Food Group claimed it could not estimate earnings for a particular franchise. In fact, the ACCC alleges Retail Food Group knew the earnings of each loss making store, and was well aware that the stores being sold or licensed had been loss-making in the current or the previous financial year. Announcement • Nov 18
Retail Food Group Limited Announces Executive Changes Retail Food Group Limited announced the appointment of Matthew Marshall to the role of Head of Retail. Matt brings considerable experience to the role across a variety of major brands and organisations, including Cadbury Schweppes, Asahi, Brumby's Bakery and Sanofi Consumer Healthcare. Matthew Marshall's appointment follows the departure of Jessica Buchanan from the Group. Announcement • Jul 23
Retail Food Group Limited Announces Temporary Closure of Dairy Country Facility Retail Food Group Limited announced that Dairy Country's Tullamarine facility has temporarily closed for a deep clean following three workers at the facility testing positive to COVID19. As a precaution, the facility's entire staffing complement will be sent for testing. RFG Executive Chairman Peter George stressed that Dairy Country's focus will remain on protecting the health and safety of staff, customers, suppliers and the community, and that the Company was liaising with Victoria's Department of Health & Human Services (DHHS) in relation to the actions it was taking. Mr. George noted that measures Dairy Country had implemented, following the emergence of COVID19 in Australia, to ensure safe work practices for staff included: Additional cleaning and sanitation measures; Separation of teams (business unit & shift segregation); Mandatory use of PPE; Staff temperature checks; Regular staff communication; Engagement of external contractors to provide preventative fogging for high touch zones; Maintenance and promotion of social distancing and hygiene practices; Implementation of work from home arrangements, where feasible; Continual vigilance regarding COVID19 symptoms or potential exposure, and quarantining staff where necessary; and Establishment of a dedicated emergency response team within Dairy Country, working to ensure management and staff are provided with up to date information and responses in this fast-evolving situation. Dairy Country will continue to monitor its practices and where necessary expand measures to minimise the potential exposure and spread of COVID19.