Real Good Food shares wither as results disappoint

The price of shares in AIM-listed Real Good Food (LON:RGD) has fallen by 8.97% to 6.60p (as of 12:30 BST) after it published results for the year ended 31st March. Revenues from continuing operations fell by 3.4% and the company’s loss before tax almost tripled.

CEO Hugh Cawley commented: “After a very difficult period in the Group’s history and a great deal of corporate activity, Real Good Food plc now comprises two divisions, with clearly articulated objectives and defined strategies to accomplish those objectives. We believe we now have the leadership, the senior management and the resources capable of delivering a further uplift in performance from both businesses, and a substantially lower central cost base more fit for purpose.

“In the new financial year to date, current trading from the two remaining, robust and profitable businesses is in line with our modest expectations for the year. The Group remains focused on continuing to improve its results and on reducing net debt, as well as continuing to support the business’s strategy and thereby to increase shareholder value and returns“.