RFG's bankers circle as group records massive loss


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RFG’s full-year loss compares to a statutory profit of $61.9 million in fiscal 2017.


For the year to June 30, Brumby’s earnings before interest, tax, depreciation and amortisation (EBITDA) fell 40.1 per cent to $6.3 million, while Donut King’s EBITDA slumped 33.8 per cent to $11.2 million.


Gloria Jeans’ EBITDA plunged 66.7 per cent to $6.6 million, while its Crust Gourmet Pizza and Pizza Capers brands reported a 17.2 per cent drop in EBITDA to $10.2 million for the year. RFG’s international division and its wholesale food division also recorded EBITDA declines of more than 40 per cent for the period.


RFG also warned that new accounting standards would force it to list debts associated with leases it holds for franchisees on its books. This would have a “material impact” on the group when the changes came in halfway through next year.


Shares in the group were down 6.4 per cent to 58.5¢ in afternoon trade.


Article source: http://smh.com.au/national/health/scientists-want-relaxation-of-laws-to-allow-gene-editing-of-human-embryos-20170329-gv8tj9.html

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