RFG: announces 107 percent increase in profit

Southport / AU. (rfg) Leading Australian retail food brand manager and franchisor Retail Food Group Limited (RFG) announced a H1/2008 NPAT of 8,1 million AUD, representing a 107 percent increase on the 3,9 million AUD result for H1/2007. The NPAT performance underpinned an 85 percent increase in EPS over the previous corresponding period (pcp) to 0,102 AUD. The significant NPAT increase was attributable to the company´s recent acquisitions of the Brumby´s Bakeries and Michel´s Patisserie franchise systems together with robust organic new outlet openings and sustained performance in outlet Average Weekly Sales and Average Transaction Values across each of the company´s Donut King, bb´s cafe, Brumby´s and Michel´s franchise systems. EBIT for the six month period amounted to 16 million AUD representing a 154 percent increase on the 6,3 million AUD achieved in H1/2007.