Sharechat Logo

Burger Fuel Group Limited (NZX: BFG) Half Year Results - 30 September 2020

Friday 27th November 2020

Text too small?

The Directors of Burger Fuel Group Limited present the unaudited results for the 6 months to 30 September 2020.

Net Profit after tax for the period was $358,901 compared to $548,092 in the same period last year. This represents a decline of (34.5%).

Group Operating Revenue (excluding IFRS 16 and the wage subsidy income) decreased by (22.7%) on the same period last year to $8.2M. This is mainly due to reduced sales and reduced royalties due to the Covid-19 pandemic which includes support provided to our MENA Licensees who have been heavily impacted by Covid-19.

The Group has no debt and as at 30 September 2020 and had cash reserves of $6.8M.

GROUP OUTLOOK

At this point the ongoing effects of Covid-19 are still unknown however with the Group’s healthy cash position, lower operating costs and no debt we are well positioned for moderate growth of all brands in New Zealand.

In summary, BFG is in a sound position with its finances, talent, intellectual property and future opportunities well in place. We believe that the cautious opening of new locations in New Zealand is well within the capabilities and financial position of the Group, however franchise opportunities remain limited for now.

See the links below for more details:

BFG NZX Announcement - half year ended 30 September 2020

BFG Half Year Announcement - 30 Sept 2020

Source: Burger Fuel Group Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Chatham Rock Phosphate Limited (NZX: CRP) Chatham Successfully Completes Private Placement
Turners Automotive Group Limited (NZX: TRA) Upgrades FY21 Earnings Guidance
Blackwell Global Holdings Limited (NZX: BGI) Restructure of Business Operations
Vista Group International Limited (NZX: VGL) Vista Group appoints James Miller as Independent Director
Rakon Limited (NZX: RAK) Update of FY2021 Earnings Guidance
The a2 Milk Company Limited (NZX: ATM) Organisational Announcement
Reserve Bank of New Zealand Committed to Action as It Responds to Data Breach
MHM Automation Limited (NZX: MHM) Settlement of New Plymouth Building Sale
Napier Port Holdings Limited (NZX: NPH) First Quarter 2021 Trade Volumes
New Zealand Oil & Gas Limited (NZX: NZO) Mahato PSC Update - Oil Production

IRG See IRG research reports