Business
Chairman's Statement - Final Results
Chairman's Statement - Final Results.
About this update from Roebuck Food Group Plc
[{"type":"text","content":"\n \n \n \n \n Chairman's Statement\n \n \n \n \n \n \n \n Roebuck Food Group plc (AIM: RFG), is pleased to announce its results for the year ended 31 December 2022.\n \n \n \n \n \n \n Group Financial Highlights - Continuing Operations\n \n \n \n ·\n Group revenue increased by 29% to £31.4m (2021: £24.3m)\n \n \n ·\n Earnings per share of 0.5p on continuing operations (2021 : loss of 3.5p)\n \n \n ·\n Profit after tax from continuing operation of £0.2m ( 2021 : loss £1.1m)\n \n \n ·\n EBITDA of £0.5m from the Dairy division (2021 : £0.1m)\n \n \n ·\n EBITDA of £0.4m from the Sourcing division (2021: £0.3m)\n \n \n \n \n \n \n Divisional Highlights- Continuing Operations\n \n \n \n \n \n \n \n \n \n \n \n \n \n £'000\n \n \n \n \n \n \n Sourcing\n \n \n \n \n \n \n Dairy\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n \n \n \n \n 2021\n \n \n \n \n \n \n 2022\n \n \n \n \n \n \n 2021\n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n 29.9\n \n \n \n \n \n \n 23.3\n \n \n \n \n \n \n 1.5\n \n \n \n \n \n \n 1.0\n \n \n \n \n \n \n \n EBITDA\n \n \n \n \n \n 0.4\n \n \n \n \n \n \n 0.3\n \n \n \n \n \n \n 0.5\n \n \n \n \n \n \n 0.1\n \n \n \n \n \n \n \n Operating Profit/(loss)\n \n \n \n \n \n 0.4\n \n \n \n \n \n \n 0.3\n \n \n \n \n \n \n 0.3\n \n \n \n \n \n \n (0.8)\n \n \n \n \n \n \n \n Operating Margin\n \n \n \n \n \n 1.3%\n \n \n \n \n \n \n 1.3%\n \n \n \n \n \n 20%\n \n \n \n \n (80%)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Sourcing Division\n \n \n \n \n \n \n \n \n Sales at our sourcing division increased by 28% in 2022, compared with the same period in 2021, from £23.3m to £29.9m. Operating profit improved from £0.3m to £0.4m.\n \n \n \n \n \n Townview Foods Ltd, continues to execute its commercial strategy which centres on diversification of products and end-markets. Our core animal proteins business continues to deliver consistent revenue and profits with a low-risk trading model and diversification of product sourcing and end-markets. From a standing start in March 2022, we have grown our dairy ingredients trading business into a significant operation both in terms of revenues and profits and we are confident about its prospects in 2023. We are also developing capability in plant-based ingredients which will allow us to offer a full portfolio ...