HIGHLIGHTS1,2
Group Revenue of
Adjusted EBITDA of
Adjusted Operating Profit of
Net Debt (excluding lease liabilities) of
Cash and undrawn committed debt facilities of
Revised financing agreements and amendments on near term covenant conditions secured with the Group's bank lending syndicate and Private Placement Note holders
Launching a new sustainability strategy built around three pillars: Sourcing with Integrity, Making with Care, and Feeding with Pride
As announced on
While the Group anticipates that COVID-19 will continue to have an uncertain impact on its near term trading environment, it is well positioned to take advantage of recovering trading conditions as they occur
The Group has separately announced today its intention to conduct a non-pre-emptive placing of new ordinary shares of
Commenting on the results,
'This has been an exceptionally challenging year for
There is a direct correlation between the performance of food to go and the nation's ability to move around freely. As a result, that part of our business has been significantly impacted by the social restrictions that have been put in place as a result of COVID-19. However, we remain confident that demand for our food to go categories will recover strongly as the effect of COVID-19 recedes, and were encouraged by the uplift in demand that we saw in Q4 as the
Throughout the year we have acted quickly and decisively to put in place comprehensive sets of measures to mitigate the impact of COVID-19 on our business. However, in light of the ongoing uncertainty that is being caused by the current lockdown measures, there is a strong rationale in further strengthening our balance sheet. Today's proposed Placing achieves this.
Despite the ongoing uncertainty, we have still been able to secure new business and extend our product range during FY20, and our other convenience categories have delivered a solid performance. Furthermore, our relationships with our customers are stronger than ever before, having worked in close collaboration with them throughout the pandemic, and they remain firmly committed to the categories in which we operate. As such, notwithstanding the near-term challenges, we are optimistic about the medium-term prospects for
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