Pure Foods Tasmania : Activities Statement and Appendix 4C

	Pure Foods Tasmania Ltd
	100 -104 Mornington Rd
	Mornington TAS 7018
	ASX: PFT
only	[phone]
www.purefoodstas.com
ASX Announcement

Pure Foods Tasmania Limited (ASX: PFT)

19 January 2022

Quarterly Activities Report for Q2 FY22

use	Record 1st Half Revenue up 59% FY22 v pcp
	Potato & Gravy and Plant Based Ice Cream to be ranged in Woolworths

Pure Foods Tasmania Ltd (ASX:PFT) ('PFT' or 'the Company') provides its Quarterly Activities Report and Appendix 4C for the quarter ended 31 December 2021. Unless otherwise stated all financial results are unaudited.

FINANCIAL HIGHLIGHTS

personal	 Q2 FY22 sales revenue of $3.1 million up 23% vs Q2 FY21
 1H FY22 sales revenue of $5.8 million up 59% vs 1H FY21
 Strong revenue growth across all divisions
 Completion of $5.3 million convertible note offering
 Net cash of $5.0 million as 31 December 2021 provides capital for continued investment
to expand product ranging, lift manufacturing capacity and explore complementary value
accretive acquisitions
OPERATIONAL HIGHLIGHTS
For	 Potato & Gravy to be ranged in Woolworths in early February 2022
 Four-packs of Cashew Creamery Ice Creams, in five flavours, to be ranged in Woolworths

Metro stores from January 2022

 Woodbridge Smokehouse (WBSH) sales up 134% 1H FY22 v FY21 reflecting strong demand driven by export and growing distribution within Australia

 Plant-based foods segment grew at 55% Q2 FY22 v Q1 FY21 following continued volume, distribution and sales growth of The Cashew Creamery and Lauds Plant Based Foods products

 Active stockists continue to grow to over 2,900 up +45% since end of FY21  First export order into India secured for Lauds Plant Based Cheese

 Expansion of manufacturing capacity to accommodate growing sales, increased product ranges and improved operational efficiencies

Pure Foods Tasmania Ltd

100 -104Mornington Rd Mornington TAS 7018 ASX: PFT [phone]

www.purefoodstas.com

onlyMichael Cooper, Managing Director and CEO, highlighted, "Over the quarter we have continued to deliver exceptional results and strong performance across our business segments. This demonstrates the ongoing successful execution of our strategy, and more importantly of the strong customer demand for our quality range of products.

"Our business segments are performing in line or ahead of expectation with our WBSH product userange continuing to gain significant market share both domestically and internationally, strong

international demand for Lauds Plant Based Cheese products and the expansion of Cashew Creamery into Woolworths. Our distribution pipeline has expanded further with products now in over 2,900 stockists, significantly increasing our product exposure and brand positioning.

personal"We are incredibly pleased to be launching Daly Potato's Potato & Gravy product into major retail stores in the new year. The process to get to this point has not been without challenges but we

now have a high-quality product and a significant market opportunity before us. We look forward to updating the market as we expand this product interstate and across platforms and major

Foretailers.

	Pure Foods Tasmania Ltd
	100 -104 Mornington Rd
	Mornington TAS 7018
	ASX: PFT
use only	[phone]
www.purefoodstas.com
personal

"Additionally, we are well positioned with $5.0 million in cash following the completion of the $5.3 million convertible note offering ensuring we can continue to build on the momentum and success achieved with our acquisition strategy in the past 12 months. The strong distribution platform and customer demand for our range of quality products delivers a robust platform for further growth in FY22 and beyond."

FINANCIAL REVIEW

PFT delivered $3.1 million in sales for Q2 FY22, a 23% increase on the previous corresponding period. The significant increase in sales is a result of our increased product offering, expanded distribution networks both domestically and throughout Asia and increased demand and on our e-commerce site.

PFT spent a total of $3.82 million on business activities during the December quarter, a 25.7% increase on the prior quarter. Expenditure for the quarter comprised of approximately $2.38 million Forfor product manufacturing and operating costs, $1.11 million for staff costs, $0.23 million for

administration and corporate costs and $0.08 million for advertising and marketing.

OPERATIONAL REVIEW

The quarter saw strong demand across PFT's product portfolio. Key operational highlights include:

Woodbridge Smokehouse: Delivered a very strong Q2 with sales 93% vs PCP driven by our growing distribution channels within Australia and Asia and growing demand from consumers via our e- commerce website.

Pure Foods Tasmania Ltd

100 -104Mornington Rd Mornington TAS 7018 ASX: PFT [phone]

www.purefoodstas.com

onlyDaly Potato Co: Sales were also strong as demand for potatoes grew with the arrival of the summer salad season. The Homestyle Coleslaw range in Woolworths continued to grow with another period of strong revenue growth. The launch of the Potato & Gravy product range in Woolworths stores in Tasmania and Queensland for mid-January 2022 was confirmed. The ranging will allow the Company to ramp up production volumes to meet the expected demand across other major retail networks across Australia in FY22.

Tasmanian Pate: Achieved strong sales driven by Homestead SKUs ranged during FY22. useHomestead remains the highest ranged brand from the PFT portfolio in the Tasmanian

independent market with growing exposure nationally through our distribution agreement with Monde Nissin.

Lauds Plant Based Foods: New product development remains the focus with growing demand for plant-based foods continuing in the Australian and export market. Importantly, Lauds Plant Based Cheese secured a first export order into India. India represents a very large opportunity

personalfor strong growth with our plant-based food range.

The Cashew Creamery: Sales grew 89% vs 1H FY21. The Cashew Creamery continues to deliver significant growth as expanded distribution network increases the availability of the product to our customers. With increased ranging, including four-packs of Cashew Creamery Ice Creams, in five flavours, to be ranged in Woolworths Metro stores across NSW, QLD and VIC we anticipate continued volume and sales growth for Cashew Creamery.

CONVERTIBLE NOTE

The Company raised $5.3 million through an offer of unsecured convertible notes (ref ASX release 7 October 2021). The convertible notes were in two tranches, with the second tranche of $1.5 million approved at the Annual General Meeting. Funds from the convertible notes will be used

for further organic and acquisitive growth opportunities including:

For	• Extension of product range in the emerging plant-based food market
•	Continued growth via complementary acquisitions to accelerate growth and drive synergies
	via our extensive distribution network across Australia and South-East Asia
•	Further expansion into rapidly growing markets such as petrol and convenience to
	complement our existing Daly Potato & Gravy range

CORPORATE

As detailed in the attached ASX Appendix 4C, the Company had $5.0 million in cash and $1.4 million in undrawn facilities as at 31 December 2021.

Pure Foods Tasmania Ltd

100 -104Mornington Rd Mornington TAS 7018 ASX: PFT [phone]

www.purefoodstas.com

only
				---ends---
	This announcement has been authorised and approved by the Board of PFT.
use
	For further information, please contact:
	Corporate	Investor Relations
	Michael Cooper	Craig Sainsbury
	Managing Director	[e-mail]
	[e-mail]	[phone]
	[phone]
personalTasmania's premium food and beverage businesses. PFT's strategy is to develop new premium

Payments of $8,000 were made to related parties and their associates during the quarter, as noted in Section 6 of Appendix 4C.

About Pure Foods Tasmania (PFT)

Pure Foods Tasmania Pty Ltd was formed in 2015 with the aim to enhance and promote

products within our existing brands and in the plant-based food market, to acquire Forcomplementary brands and businesses and to increase our market penetration and distribution

for our suite of brands and products globally. PFT's suite of brands and businesses include Woodbridge Smokehouse, Tasmanian Pate, Daly Potato Co, Pure Tasmanian Seafood, Lauds Plant Based Foods, The Cashew Creamery and New Pastures.

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