For H1FY17, Retail Food Group Ltd Acquisition of Hudson Pacific to expand the RFG’s foot print
Acquisition of Hudson Pacific to expand the RFG’s foot print: For H1FY17, Retail Food Group Ltd (ASX: RFG) has reported 9.2% yoy growth in revenue at $161.9 million and 17.3% growth in Net Profit after Tax (NPAT) to $33.5 million, while affirming the FY17 underlying NPAT guidance of 20% growth. Notably, RFG has finished the transformative Hudson Pacific Corporation (HPC) acquisition and granted nine new licenses in H1FY17. Further, with the acquisition of Hudson Pacific, RFG evolves as a full-service food and beverage company, possessed of a diversified and global operating platform. The company has commissioned 138 new outlets across its domestic and international networks and closed H1FY17 with a global footprint of 2,556 outlets. A 19% increase in renewals approved by the Group (118 vs PCP:99) also demonstrated robust appetite for the company’s brand systems within the domestic franchise partner community. International franchising operations have become a key ingredient of the company’s success, driving growth across an increasingly diverse network of territories. During the H1FY17, RFG granted an additional 9 licenses, increasing its network of international licensed territories to 78 across 10 brand systems.
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