Real Good Food YTD revenues slip, losses widen
By Iain Gilbert
Date: Wednesday 23 Sep 2020
(Sharecast News) - Food manufacturing business Real Good Food said on Wednesday that revenues had slipped in the first five months of the trading year due to the Covid-19 pandemic.
Real Good Food reported a 28% drop in revenues to £27.0m, leading to a pre-tax loss for the five months ended 31 August of £3.8m - doubling the £1.9m loss recorded a year earlier.
However, the AIM-listed group highlighted that this period had historically been loss-making as inventories build ahead of the peak trading period between September and December.
Chairman Mike Holt said: "Whilst our businesses have been affected by the ongoing Covid-19 crisis, both Brighter Foods and Cake Decorations are experiencing recoveries in their respective markets.
"Despite the outlook remaining uncertain pro tem, it is encouraging that both businesses have gained new customers and agreed new product launches."
As of 0910 BST, RGF shares were up 2.86% at 5.40p.
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