Roebuck Food Group Public Limited Company (CDI) (RFG)

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 13.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 17.75
  • 52 Week Low: 11.00
  • Currency: UK Pounds
  • Shares Issued: 49.66m
  • Volume: 3,731
  • Market Cap: £6.70m
  • RiskGrade: 205

Cost cutting offsets revenue drop for Norish

By Duncan Ferris

Date: Friday 08 Mar 2019

LONDON (ShareCast) - (Sharecast News) - Norish on Friday reported an increase in annual profit as cost cutting measures more than offset the impact of lower revenue.
For the year ended 31 December, the cold storage company recorded a profit before tax of £1.9m, an 18% improvement over the year before, after cost of sales was reduced by 14% to £33.9m.

The AIM traded company said labour costs were down 5% while power costs were down by 10% due to the reduced blast freezing activities.

Revenue fell by 12% to £36.8m after a reduction in blast freezing volumes, with revenues in the sourcing division falling by 18% to £22.5m as Townview Foods mainly accounted for decreased sales.

At 31 December, Norish had cash and cash equivalents of £1.5m, roughly unchanged from the same point the year beforehand, while its final and total dividend had increased by 9% to 1.80 €cent.

Looking to the future, the business said it anticipated "strong profit growth" in 2019 despite volatility in underlying markets after its cold storage division got off to a good start.

Ted O'Neill, chairman of Norish, said: "It is difficult to pin point any direct impacts from the ongoing Brexit discussions other than to say they are hardly positive for business generally. However, our balance sheet is in excellent shape and leaves us well positioned to benefit from any disruption and consequent opportunity which may arise."

Norish's shares were up 1.54% at 66.00p at 1054 GMT.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

RFG Market Data

Currency UK Pounds
Share Price 13.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 17.75
52 Week Low 11.00
Volume 3,731
Shares Issued 49.66m
Market Cap £6.70m
RiskGrade 205

RFG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
57.67% above the market average57.67% above the market average57.67% above the market average57.67% above the market average57.67% above the market average
8.89% below the sector average8.89% below the sector average8.89% below the sector average8.89% below the sector average8.89% below the sector average
Price Trend
74.51% above the market average74.51% above the market average74.51% above the market average74.51% above the market average74.51% above the market average
28.71% below the sector average28.71% below the sector average28.71% below the sector average28.71% below the sector average28.71% below the sector average
Income Not Available
Growth
38.91% below the market average38.91% below the market average38.91% below the market average38.91% below the market average38.91% below the market average
8.00% above the sector average8.00% above the sector average8.00% above the sector average8.00% above the sector average8.00% above the sector average

RFG Dividends

  Latest Previous
  Special Final
Ex-Div 21-Nov-21 23-Sep-21
Paid 29-Nov-21 15-Oct-21
Amount 166.00p 2.00¢

Trades for 28-Mar-2024

Time Volume / Share Price
14:46 3,731 @ 12.00p

RFG Key Personnel

CEO Kieran Mahon
Finance Director Gerard Murphy

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