Real Good Food, the food manufacturing company, has announced a narrowed Ebitda loss for the first half of the year and increased revenue. Their successful price reset strategy has contributed to this positive performance.
For the six months ending on September 30th, the adjusted loss before interest, taxes, depreciation, and amortization (Ebitda) was £700,000. This is a significant improvement when compared to the loss of £2.3 million during the same period last year. The adjusted Ebitda metric excludes exceptional and other one-off items.
Despite experiencing lower volumes and margin sales, Real Good Food managed to achieve a 2% increase in revenue. Their total revenue for this period amounted to £16.1 million, up from £15.9 million.
Looking ahead, the board anticipates that the full-year Ebitda will reach £1.0 million. This is a substantial improvement compared to the loss of £5.8 million in the previous year. Additionally, they expect an exit run rate of £3 million to £4 million.
Executive Chair Mike Holt expressed his satisfaction with the company’s progress: “We have come a long way since this time last year when the Group was facing significant challenges. The radical reform program has yielded substantial benefits, and recent changes in senior management have also had a positive impact.”