Retail Food Group LimitedASX: RFG

FY17 Appendix 4E & Fully Year Statutory Accounts

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Current reporting period: Financial year ended 30 June 2017‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌

Details

Growth PCP

%

FY17

$'000

Previous corresponding period: Financial year ended 30 June 2016

Revenue from operations‌‌‌‌‌‌‌‌‌

up

27.0%

to

349,295

Underlying Profit after tax attributable to members‌‌

up

14.0%

to

75,740

Profit from ordinary activities after tax attributable to members‌‌‌

up

16.9%

to

61,927

Net profit attributable to members

up

16.9%

to

61,927

Details Cents‌‌‌‌‌‌

per share Total amount

$'000

Franked/ Unfranked

Payment date

Final FY16 dividend‌‌‌‌‌‌‌

14.50

23,920

100% Franked

7 October 2016

Interim FY17 dividend‌

14.75

25,968

100% Franked

10 April 2017

Final FY17 dividend‌‌‌‌‌‌‌

15.00

26,510

100% Franked

17 October 2017

Record date for determining entitlements to the final FY17 dividend: 12 September 2017.‌‌‌‌‌‌‌‌

Details‌‌‌‌‌‌

30 June 2017

30 June 2016

Net tangible (liabilities)/assets per security(1)‌

(11.5) cents(2)

(13.3) cents(3)

  1. Net tangible assets defined as net assets less intangible assets.

  2. 30 June 2017 calculation based on 176,736,066 shares.

  3. 30 June 2016 calculation based on 164,968,083 shares.

    For comments on trading performance during the financial year, refer to the Directors Report and the FY17 results media release.‌‌‌‌

    The final fully franked dividend of 15.00 cents per share was approved by the Directors on 29 August 2017. In complying with accounting standards, as the dividend was not approved prior to year-end, no provision has been recognised for this dividend.

    Retail Food Group Limited ACN 106 840 082 Annual Financial Report - Financial Year Ended 30 June 2017

    Page

    SUMMARY FINANCIAL INFORMATION 1

    CORPORATE DIRECTORY 2

    DIRECTORS' REPORT 3

    AUDITOR'S INDEPENDENCE DECLARATION 23

    CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 24

    CONSOLIDATED STATEMENT OF FINANCIAL POSITION 25

    CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 26

    CONSOLIDATED STATEMENT OF CASH FLOWS 27

    NOTES TO THE FINANCIAL STATEMENTS 28

    ADDITIONAL STOCK EXCHANGE INFORMATION 94

    SUMMARY FINANCIAL INFORMATION

    REPORTED

    Item

    FY16

    (Previously reported)

    FY16

    (Restated)

    FY17

    Financial

    Revenue

    $275.1m

    $275.1m

    $349.3m

    EBITDA*

    $103.7m

    $92.7m(2)

    $106.5m

    EBIT*

    $97.2m

    $86.2m(2)

    $97.2m

    NPAT

    $61.3m

    $53.0m(2)

    $61.9m

    Basic EPS

    37.4 cps

    32.3 cps(2)

    35.7 cps

    Dividend

    27.50 cps

    27.50 cps

    29.75 cps

    Operating Performance

    Revenue Growth

    30.9%

    30.9%

    27.0%(3)

    EBITDA Growth*

    14.8%(3)

    EBIT Growth*

    12.8%(3)

    NPAT Growth

    16.9%(3)

    Basic EPS Growth

    10.6%(3)

    UNDERLYING OPERATIONS (1)

    FY16

    FY17

    $110.2m

    $123.5m

    $104.2m

    $115.5m

    $66.4m

    $75.7m

    40.5 cps

    43.7 cps

    24.0%

    12.1%

    22.1%

    10.9%

    20.5%

    14.0%

    13.7%

    7.9%

    * EBITDA, EBIT, Underlying EBITDA, Underlying EBIT & Underlying NPAT are non-IFRS profit measures used by Directors and Management to assess the underlying performance of the Group.

    FY16

    (Restated)

    FY17

    $86.2m(2)

    $97.2m

    $9.1m(2)

    $13.1m

    $8.9m(2)

    $5.2m

    $104.2m

    $115.5m

    $53.0m(2)

    $61.9m

    $13.4m(2)

    $13.8m

    $66.4m

    $75.7m

  4. EBITDA and EBIT results from 'Underlying Operations' exclude the pre-tax impact of the following amounts recognised in the Consolidated Statement of Profit or Loss and Other Comprehensive Income:

    EBIT - REPORTED (Restated)

    Acquisition transaction and integration costs (including restructuring costs)

    Asset impairment

    EBIT - UNDERLYING OPERATIONS

    NPAT results from 'Underlying Operations'

    NPAT - REPORTED

    Post- tax impact of non-underlying EBIT adjustments

    NPAT - UNDERLYING OPERATIONS

  5. Restated - see Note 34.

  6. FY17 Operating Performance growth measures are based on FY16 Restated Reported results.

  7. Retail Food Group Limited - Annual Report - Financial Year Ended 30 June 2017 Page 1

    Mr Colin Archer‌

    Chairman and Independent Non-Executive Director

    Mr Andre Nell

    Executive Managing Director

    Ms Jessica Buchanan

    Independent Non-Executive Director

    Mr Stephen Lonie

    Independent Non-Executive Director

    Ms Kerry Ryan

    Independent Non-Executive Director

    Mr Russell Shields

    Independent Non-Executive Director

    Mr Anthony (Tony) Alford

    Non-Independent Non-Executive Director (to 3 July 2017) Mr Anthony Mark Connors LLB

    RFG House

    1 Olympic Circuit

    Southport QLD 4215

    Computershare Investor Services 117 Victoria Street

    West End

    Brisbane QLD 4101

    McCullough Robertson Lawyers Level 11, 66 Eagle Street

    Brisbane QLD 4000

    PricewaterhouseCoopers 480 Queen St

    Brisbane QLD 4000

    National Australia Bank Limited Level 20, 100 Creek Street

    Brisbane QLD 4000

    Westpac Banking Corporation Level 7, 260 Queen Street

    Brisbane QLD 4000

    Retail Food Group Limited (ASX: RFG) shares are listed on the Australian Securities Exchange

    www.rfg.com.au

    Retail Food Group Limited - Annual Report - Financial Year Ended 30 June 2017 Page 2