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Real Good Food PLC - Liverpool-based food producer - Reports revenue of £40.5 million for the year ending March 31, representing a 9.0% increase on the previous year. Narrows pretax loss to £2.8 million from a loss of £6.1 million the previous year. Company says this performance is below what it had anticipated, having performed strongly in the first half of its financial year. Cites a ‘disappointing’ third quarter performance due to severe shortages and ‘erratic’ deliveries of key ingredients. Looking forward, company expects a ‘challenging’ environment in terms of cost and demand pressures.
Chief Executive Mike Holt says: ‘The last few months have been very difficult due to a number of issues relating to costs, supply chain and unavoidable staff absences leading to our performance for the financial year just ended being worse than we had hoped. The unprecedented cost increases being experienced by all businesses are being passed through to our customers but there is a timing lag which is impacting profitability.’
Current stock price: 1.90 pence, down 2.6% on Wednesday
12-month change: down 38%
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