BFW Half Year Report for the Period Ended 30 September 2017

BURGERFUEL
CONSOLIDATED INTERIM
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2017

Registered Office
Grant Thornton New Zealand Limited
152 Fanshawe Street
Auckland
Company Number
1947191
Date of Incorporation
14 June 2007
Directors
Peter Brook - Chairman (Independent)
Alan Dunn (Independent)
Christopher Mason (Executive)
Josef Roberts (Executive)
Board Executives
Tyrone Foley (Chief Operating Officer)
Mark Piet (Chief Financial Officer/Company Secretary)
Accountant
Grant Thornton New Zealand Limited
Level 4
152 Fanshawe Street
Auckland
Bankers
ASB Bank Limited
CBA Bank Limited (Australia)
Bank of America Merrill Lynch (USA)
Huntington Bank (USA)
Emirates NBD (UAE)
Solicitors
Kensington Swan
Wiggin and Dana LLP
MST Lawyers
Anthony Harper
Fee Langstone
Fragomen, Delrey, Bernsen & Loewy LLP
Business Headquarters
66 Surrey Crescent
Grey Lynn
Auckland
Auditor
Staples Rodway
Level 9, Tower Centre
45 Queen Street
Auckland
COMPANY DIRECTORY

CONTENTS PAGE
Chairman and Chief Executive’s Review 3–4
Consolidated Statement of Comprehensive Income 5
Consolidated Statement of Financial Position 6
Consolidated Statement of Changes in Equity 7
Consolidated Statement of Cash Flows 8
Notes to the Consolidated Financial Statements 9-14
BURGERFUEL
CONSOLIDATED INTERIM
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2017

PAGE 3
BURGER FUEL WORLDWIDE LIMITED HALF YEAR REPORT 2017
OVERVIEW
The Directors of BurgerFuel Worldwide (BFW)
present the unaudited results for the 6 months to 30
September 2017.
Net Profit after tax in the period was $65,071
compared to a loss of ($115,328) in the same period
last year, showing a gain of $180,399.
Our Group Operating Revenue increased by 21.9%
on the same period last year to $12.6M. This increase
in revenue is mainly due to the new Indianapolis &
Takapuna company owned stores. Takapuna was
purchased in October 2016 & the Indianapolis store
opened in May 2017. BurgerFuel Total System Sales
(store sales including franchised stores) are up 9.2%
to $52.7M for the period - this is made up of both new
and existing stores’ sales growth.

BFW RESULTS (UNAUDITED) FOR THE PERIOD
1 APRIL TO 30 SEPTEMBER 2017
30 September
2017
30 September
2016
$000$000
Operating Revenue*12,65110,378
Operating Expenses**(12,247)(10,457)
Net Profit Before Tax404(79)
Net Profit After Tax65(115)
* Revenue includes; Operating revenue & interest income.
** Expenses include; Operating expenses, depreciation, amortisation
& interest expense.
TOTAL SYSTEM SALES UP 9.02% TO $52.7M
AUSTRALASIAN REGION
In New Zealand we continue to receive strong
customer support in both the regional areas and
cities.
Our focus remains on operational excellence, cost
efficiencies, systemisation and the development
of world-class training technology and system
development and are seeing the benefits of this.
The BurgerFuel NZ company-owned store strategy
continues to develop, with last year’s purchase of
Takapuna becoming a key contributor. We see further
potential to own more BurgerFuel outlets over time
and will continue to review these opportunities as
they present themselves.
While sales continue to grow year-on-year, as
previously communicated, the Board notes that the
market should expect new store openings in New
Zealand to slow down as this market approaches its
full potential – especially in the North Island.
BFW still sees the opportunity for further expansion
in the South Island where we are actively reviewing
potential sites and franchisees.
While focus will remain on the protection and
growth of the existing New Zealand business, BFW
will continue in its exploration of diversification
opportunities. As communicated in the Annual
Report, the board will continue to consider all options
for expansion within the New Zealand Market, both
inside and outside the BurgerFuel brand.
Australia remains difficult, and alongside an extremely
competitive landscape, we continue to face high
operating costs such as rent and labour. In November
2017, our franchisees in the Gold Coast closed
their Mermaid Beach store due to a relatively low
performance level. This will have no material effect on
BFW results.
We will continue to support our existing franchised
stores in Australia but comfortable operating margins
remain hard to achieve and accordingly further
expansion in this market is highly unlikely.
MIDDLE EASTERN REGION
In the Middle East, despite the many adversities we
face due to ongoing economic and political unrest,
we have seen growth in certain areas and continue to
make progress in this market.
As of the 30th September 2017, we now have a total
of 25 BurgerFuel stores across the Middle East.
Our business in Saudi Arabia has continued to see
growth in sales within the period. As previously
communicated, this can be largely attributed to the
recent revitalisation of the Saudi economy as well as
an increase in BurgerFuel’s marketing activity.
The UAE, as a whole, is continuing to see a slowdown
in the retail sector and this has been reflected in sales.
We are also facing a densely populated competitor
market. Despite these challenges, our business in the
UAE continues to operate reasonably well, and Dubai
remains a strong focus for us in the Middle Eastern
region.
In Egypt, the ongoing political turmoil as well as
the economy there in general, continues to result
in extremely low sales volumes. The reality is that
should this continue, this is not a market that
BurgerFuel can operate in successfully or safely. We
are currently working with our local partners to assess
our future in Egypt and will update the market with
any developments as they come to light. The market
should note that Egypt has never contributed in any
significant way to BFW results, and therefore a full
exit from this country will have no material impact on
the group.
CHAIRMAN AND CHIEF EXECUTIVE’S REVIEW
FOR THE 6 MONTH PERIOD ENDED 30 SEPTEMBER 2017

PAGE 4
In Iraq, where we have one store in Baghdad, sales
continue to perform reasonably well. This has given
our Master Franchisees in that country confidence to
open another site in Baghdad. We hope to announce
that the doors have swung open on this store shortly.
In summary, the MENA region continues to be a good
contributor for the Group. We do however caution
the market every year that our outlook in any of
these regions can change quickly due to the ongoing
potential for volatility in the Middle East. As such, we
continue to monitor these markets closely.
UNITED STATES
The first BurgerFuel USA store in Indianapolis has
now been open for 6 months. Initial operations
demonstrated strong sales but sales have since
softened to a level that whilst still reasonable, are
below where we need to be. We are entering our first
winter in this market, which in general is a known
contributor to a reduction in sales. At this stage, it is
too early to advise on the viability of the brand in the
USA. Focus will remain on the continued growth of
this store and monitoring its performance closely as
we come into the warmer months. Costs of operating
in America are very high as we do not have a partner
in that country and the Board is conscious that major
investment is required there in order to both establish
and build a brand.
BurgerFuel continues to maintain a high level of
awareness in Indianapolis and American consumers
are indicating that they like our product. BurgerFuel
recently won the ‘Best Burger’ award and ‘Best
Restaurant’ award in Indianapolis via public vote.
The brand has also received some strong exposure
on a national level in the United States, placing in the
Thrillist ‘Top 31 Burgers in America’s list. Whilst we
are proud of these achievements we are also highly
mindful of costs and a potential weakening of the New
Zealand dollar. We will keep the market informed of
any further developments in the USA.

GROUP OUTLOOK / SUMMARY
The Group continues to protect and grow the
existing business, as well as look for new expansion
opportunities both inside and outside of the
BurgerFuel brand.
Investment over the last 6 months has continued
to be significant due to the resource required to
support the USA entry and development plan.
Additionally, investments have been made in new
product development and business development that
will allow the Group to keep moving forward within
existing markets and create a strong foundation for
further growth.
It is clear to the Board that the cost of doing business
in overseas markets is rising and the time required
to establish a brand overseas is also lengthening
due to the level of high competition in every global
market. Rent and labour costs are also approaching
levels never seen before and this makes return on
investment both longer and more expensive to
achieve. It is for this reason that new strategies that
allow for diversification within the New Zealand
market, where we are well established, have been put
in place.
The Group has no debt and as at 30 September 2017
had cash reserves of $5.3M.
BFW remains in a strong position, not only financially,
but also from a resource and intellectual property
perspective. This puts the Group in good stead
for further growth and the Board will continue to
consider all options for further expansion within the
New Zealand market.
We would like to thank all our shareholders for their
continued support and we look forward to keeping
you informed of our progress.
We wish all our shareholders, staff, franchisees,
suppliers and of course our valued customers, a safe
and Merry Christmas and a prosperous New Year.
Best regards
Josef Roberts
Group CEO
Peter Brook
Chairman

PAGE 5
PAGE G3BA U3RFGULRWL 3UWOWD L
The attached notes form part of these financial statements
CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30 SEPTEMBER 2017
UnauditedUnauditedAudited
30 Sep 201730 Sep 201631 Mar 2017
6 months6 monthsFull Year
Note$’000$’000$’000
Revenue12,61210,29922,217
Operating expenses(11,858)(10,117)(20,520)
Profit / (Loss) before interest, taxation,
depreciation and amortisation
7541821,697
Depreciation4329297616
Amortisation4574086
386337702
Profit / (Loss) before Interest and Taxation368(155)995
Interest income3979126
Interest expense(3)(3)(7)
3676119
Profit / (Loss) before Taxation404(79)1,114
Income tax expense33936225
Net Profit / (Loss) attributable to shareholders65(115)889
Other comprehensive income:
Items that may be reclassified subsequently to
profit or loss:
Movement in foreign currency translation
reserve
(4)93
Total comprehensive income61(106)892

Basic Net Earnings per Share (cents)
0.11(0.19)1.49
Diluted Earnings per Share (cents)
0.11(0.19)1.49

PAGE 6
PAGE G3BA U3RFGULRWL 3UWOWD L
The attached notes form part of these financial statements
Director
CONSOLIDATED STATEMENT OF
FINANCIAL POSITION
AS AT 30 SEPTEMBER 2017
Note
UnauditedUnauditedAudited
30 Sep 201730 Sep 201631 Mar 2017
6 months6 monthsFull Year
$’000$’000$’000
Shareholders’ Equity
Contributed equity16,03416,03416,034
Retained earnings(1,809)(2,878)(1,874)
IPO capital costs(223)(223)(223)
Other reserves(309)(299)(305)
13,69312,63413,632
Current assets
Cash and cash equivalents5,3096,4986,413
Trade and other receivables3,4712,5592,634
Income tax receivable-136-
Inventories1,2901,3231,174
Loans13323133
10,20310,53910,354
Non-current assets
Property, plant and equipment3,7292,8633,278
Deferred tax asset957795
Intangible assets112,4131,2142,424
6,2374,1545,797
Total assets
16,44014,69316,151
Current liabilities
Trade and other payables1,9451,6352,122
Tax payable323-25
Provisions443424337
2,7112,0592,484
Non-current liabilities
Provisions36-35
36-35
Total liabilities
2,7472,0592,519
Net assets13,69312,63413,632
Net Tangible Assets per Share (cents)19.019.019.0
For and on behalf of the board on 6
th
December 2017
Director

PAGE 7
PAGE G3BA U3RFGULRWL 3UWOWD L
The attached notes form part of these financial statements
PAGE 7
September 2017
Share
capital
Foreign
currency
translation
reserve
IPO
capital
costs
Share
option
reserve
Retained
earnings
Total
equity
$’000$’000$’000$’000$’000$’000
Balance as at 1 April 201716,034(305)(223)-(1,874)13,632
Movement in foreign currency
translation reserve recognised in other
comprehensive income
-(4)---(4)
Net Profit for the period ended 30
September 2017
----6565
Balance as at 30 September 2017
16,034(309)(223)-(1,809)13,693
September 2016
Share
capital
Foreign
currency
translation
reserve
IPO capital
costs
Share
option
reserve
Retained
earnings
Total
equity
$’000$’000$’000$’000$’000$’000
Balance as at 1 April 201616,034(308)(223)-(2,763)12,740
Movement in foreign currency
translation reserve recognised in other
comprehensive income
-9---9
Net Loss for the period ended 30
September 2016
----(115)(115)
Balance as at 30 September 201616,034(299)(223)-(2,878)12,634
March 2017
Share
capital
Foreign
currency
translation
reserve
IPO capital
costs
Share
option
reserve
Retained
earnings
Total
equity
$’000$’000$’000$’000$’000
$’000
Balance as at 1 April 201616,034(308)(223)0(2,763)12,740
Movement in foreign currency
translation reserve recognised in other
comprehensive income
-3---3
Net Profit for the year ended 31 March
2017
----889889
Balance as at 31 March 201716,034(305)(223)-(1,874)13,632
CONSOLIDATED STATEMENTS OF
CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 SEPTEMBER 2017

PAGE 8
PAGE G3BA U3RFGULRWL 3UWOWD L
The attached notes form part of these financial statements
CONSOLIDATED STATEMENT OF
CASH FLOWS
FOR THE PERIOD ENDED 30 SEPTEMBER 2017
UnauditedUnauditedAudited
30 Sep 201730 Sep 201631 Mar 2017
Note6 months6 months12 months
$’000$’000$’000
Cash flows from operating activities
Cash was provided from:
Receipts from customers11,56610,49822,935
Interest received3979126
Goods and services tax received60-8
11,66510,57723,069
Cash was applied to:
Operating expenses(11,865)(9,939)(20,375)
Interest paid(3)(3)(7)
Taxes paid(41)(51)(107)
(11,909)(9,993)(20,489)
Net cash flow provided from / (applied to) operating
activities
5(244)5842,580
Cash flows from investing activities
Cash was provided from:
Repayments from franchisees-2346
Sale of property, plant and equipment -63140
-86186
Cash was applied to:
Acquisition of intangible assets(46)(126)(194)
Advance to Supplier--(133)
Acquisition of property, plant & equipment(821)(117)(815)
Acquisition of subsidiary--(1,298)
(867)(243)(2,440)
Net cash flow applied to investing activities
(867)(157)(2,254)
Net movement in cash and cash equivalents(1,111)427326
Exchange gains/(losses) on cash and cash equivalents7(7)9
Opening cash and cash equivalents6,4136,0786,078
Closing cash and cash equivalents5,3096,4986,413

PAGE 9
PAGE G3BA U3RFGULRWL 3UWOWD L
1) REPORTING ENTITIES AND STATUTORY BASE
Burger Fuel Worldwide Limited is a company registered
under the Companies Act 1993 and is listed with the
New Zealand Alternative Stock Exchange (NZAX).
The company is a Financial Markets Conduct (FMC)
reporting entity for the purposes of the Financial
Markets Conduct Act 2013 and its financial statements
comply with that Act.
The financial statements presented are those of Burger
Fuel Worldwide Limited (the ‘Group’). A list of its
wholly owned subsidiaries is listed in note 2 of the
financial statements.
BurgerFuel operates as a franchisor of gourmet
burger restaurants and is a for-profit oriented entity,
incorporated and domiciled in New Zealand.
2) STATEMENT OF SIGNIFICANT ACCOUNTING
POLICIES
2.1) STATEMENT OF COMPLIANCE
The condensed consolidated interim financial
statements for the six months ended 30 September
2017 have been prepared in accordance with NZ
IAS 34, Interim Financial Reporting. The condensed
consolidated interim financial statements should
be read in conjunction with the annual financial
statements for the year ended 31 March 2017, which
have been prepared in accordance with NZ IFRS.
2.2) BASIS OF PREPARATION
2.2.1) REPORTING ENTITY
The consolidated financial statements for the Group
are for the economic entity comprising Burger Fuel
Worldwide Limited and its subsidiaries;
Burger Fuel (Dubai) NZ Limited
Burger Fuel (ME) DMCC
Burger Fuel International Limited
Burger Fuel (Australia) Pty Limited
Burger Fuel (Australia) No2 Pty Limited
Burger Fuel International Management Limited
Burger Fuel Limited
BurgerFuel Henderson Limited
Burger Fuel Takapuna Limited
Burger Fuel Pty Limited
Burger Fuel Australia Pty Limited
Burger Fuel (USA) Inc.
Burger Fuel (USA) Management Inc.
Burger Fuel (USA) Franchising Inc.
BF Indiana Two LLC (formerly BF Hollywood LLC)
BF Indiana One LLC
BF California One LLC
BF California Two LLC
BF Lease Company Limited
BF Lease Company No 1 Limited
BF Lease Company No 2 Limited
BF Lease Company No 3 Limited
BF Lease Company No 4 Limited
BF Lease Company No 5 Limited
BF Lease Company No 6 Limited
BF Lease Company No 7 Limited
BF Lease Company No 8 Limited
BF Lease Company No 9 Limited
BF Lease Company No 10 Limited
BF Lease Company No 11 Limited
BF Lease Company No 12 Limited
BF Lease Company No 13 Limited
BF Lease Company No 14 Limited
BF Lease Company No 15 Limited
BF Lease Company No 16 Limited
BF Lease Company No 17 Limited
BF Lease Company No 18 Limited
BF Lease Company No 19 Limited
BF Lease Company No 20 Limited
BF Lease Company No 21 Limited
BF Lease Company No 22 Limited
BF Lease Company No 23 Limited
BF Lease Company No 24 Limited
BF Lease Company No 25 Limited
BF Lease Company No 26 Limited
BF Lease Company No 27 Limited
BF Lease Company No 28 Limited
BF Lease Company No 29 Limited
BF Lease Company No 30 Limited
BF Lease Company No 31 Limited
BF Lease Company No 32 Limited
BF Lease Company No 33 Limited
BF Lease Company No 34 Limited
BF Lease Company No 35 Limited
BF Lease Company No 36 Limited
BF Lease Company No 37 Limited
BF Lease Company No 38 Limited
BF Lease Company No 39 Limited
BF Lease Company No 40 Limited
BF Lease Company No 41 Limited
BF Lease Company No 42 Limited
BF Lease Company No 43 Limited
BF Lease Company No 44 Limited
BF Lease Company No 45 Limited
BF Lease Company No 46 Limited
BF Lease Company No 47 Limited
BF Lease Company No 48 Limited
BF Lease Company No 49 Limited
BF Lease Company No 50 Limited
NOTES TO THE INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2017

PAGE 10
NOTES TO THE INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2017
4) SEGMENT INFORMATION
Operating Segments
The Group operates in four geographical segments – New Zealand, Australia, USA and the Middle East. All the
segments operations are made up of franchising fees, royalties and sales to franchisees. The segments are in the
business of Franchise Systems - Gourmet Burger Restaurants. New Zealand’s segment result is also due to the
amortisation of intangible assets.
September 2017New ZealandAustraliaMiddle EastUSATotal
$’000$’000$’000$’000$’000
6 months6 months6 months6 months6 months
Revenue
Sales5,40978969866,569
Royalties 2,299102595-2,996
Franchising fees170---170
Advertising fees1,74686119-1,951
Foreign exchange gain20(4)--16
Sundry income8061193-910
Interest income381--39
Total Revenue10,48827490398612,651
Interest Expense-3--3
Depreciation23715473329
Amortisation57---57
Segment Result before Tax1,424(22)437(1,435)404
Income Tax Expense339---339
Segment Assets13,9545861051,79516,440
Segment Liabilities2,35713643132,747
NOTES TO THE INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2017
3) ACCOUNTING POLICIES
Except as described below, the accounting policies and method of computation applied are consistent with those
of the annual financial statements for the year ended 31 March 2017, as described in the annual financial statements.

PAGE 11
PAGE G3BA U3RFGULRWL 3UWOWD L
September 2016New ZealandAustraliaMiddle EastUSATotal
$’000$’000$’000$’000$’000
6 months6 months6 months6 months6 months
Revenue
Sales4,38383537-5,003
Royalties
2,02899633-2,760
Franchising fees-----
Advertising fees1,56191126-1,778
Foreign exchange gain22(62)--(40)
Sundry income781143-798
Interest income781--79
Total Revenue8,8532261,299-10,378
Interest Expense3---3
Depreciation24721821297
Amortisation40---40
Segment Result before Tax664(192)17(568)(79)
Income Tax Expense25--1136
Segment Assets13,53126976712614,693
Segment Liabilities8711,07539742,059
NOTES TO THE INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2017
March 2017New ZealandAustraliaMiddle EastUSATotal
12 months12 months12 months12 months12 months
$’000$’000$’000$’000$’000
Revenue
Sales9,890181694-10,765
Royalties 4,2331991,281-5,713
Franchising fees263---263
Advertising fees3,241182256-3,679
Foreign exchange gain7(9)--(2)
Sundry income1,64553101-1,799
Interest received1251--126
Total Revenue19,4046072,332-22,343
Interest Expense11-57
Depreciation52342942616
Amortisation
86---86
Segment Result Before Tax1,539(124)954(1,255)1,114
Income Tax Expense196--29225
Segment Assets14,21025782585916,151
Segment Liabilities6821,049637252,519

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IAR3GBE3MERUAO3EPOEO3TH3 EMGEFYER32H01
Acquisition of Property, Plant &
Equipment & Intangible Assets
New ZealandAustraliaMiddle EastUSATotal
Business Combination1,290---1,290
Other446245661,018
5) NET CASH FLOWS PROVIDED FROM / (APPLIED TO) OPERATING ACTIVITIES
UnauditedUnauditedAudited
30 Sep 201730 Sep 201631 Mar 2017
6 months6 months12 months
$’000$’000$’000
Net surplus / (deficit) after tax65(115)889
Add: Non-cash items
Amortisation574086
Depreciation329297616
Loss on sale of property, plant and
equipment
454767
Deferred tax asset-118
Unrealised exchange loss / (gain)(16)362
Provision for Doubtful Debts--121
415421910
Add: Items classified as investing or
financing activities
Gain on sale of assets-(20)(28)
Add: Working capital movements
(Increase) / decrease in trade and other
receivables(837)189479
(Increase) / decrease in inventories(115)(29)119
Increase / (decrease) in taxation receivable297(24)100
(Increase) / decrease in accounts payable
and accruals(69)162111
(724)298809
Net cash flows provided from / (applied to)
operating activities(244)5842,580

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6) ACQUISITIONS AND DISPOSALS OF PROPERTY, PLANT, AND EQUIPMENT
During the six months to 30 September 2017, the Group acquired assets with a total cost of $821,154 (2016:
$117,483) and intangible assets of $45,711 (2016: $125,959). The Group also disposed of assets with a net book value
of $45,125 (2016: $89,599).
7) RELATED PARTY TRANSACTIONS
Interests of Directors in Certain Transactions
Certain Directors have relevant interests in a number of companies with which Burger Fuel Worldwide Ltd has
transactions in the normal course of business. A number of Burger Fuel Worldwides Ltd’s Directors are also non-
executive Directors of other companies. Any transactions undertaken with these entities have been entered into on
an arms-length commercial basis.
Transactions with Related Parties
The following are related entities to the Group:
September 2017
(6 months)
RelationshipNature
of transaction
Value of
transactions
during the
period
Closing Balance
Receivable/(Payable)
as at 30 Sep 2017
$’000$’000
Redmond
Enterprises LimitedCommon DirectorshipConsultancy303-
Trumpeter Consulting LimitedCommon DirectorshipDirectors Fees25-
Peter BrookCommon DirectorshipDirectors Fees35-
66 Surrey LimitedCommon DirectorshipHead office rental217-
Trumpeter Consulting LimitedCommon DirectorshipExpenses Paid8-
September 2016
(6 months)
RelationshipNature
of transaction
Value of
transactions
during the
period
Closing Balance
Receivable/(Payable)
as at 30 Sep 2016
$’000$’000
Redmond Enterprises LimitedCommon DirectorshipConsultancy250-
Trumpeter Consulting LimitedCommon DirectorshipDirectors Fees25-
Peter BrookCommon DirectorshipDirectors Fees35-
66 Surrey LimitedCommon DirectorshipHead office rental214-
Trumpeter Consulting LimitedCommon DirectorshipExpenses Paid8-

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All of the above are related parties of the Group. Other than the entities listed above, there are no additional related
parties with whom material transactions have taken place.
March 2017
(Full Year)
RelationshipNature
of transaction
Value of
transactions
during the
period
Closing Balance
Receivable/(Payable)
as at 31 Mar 2017
$’000$’000
Redmond
Enterprises LimitedCommon DirectorshipConsultancy550-
Trumpeter Consulting LimitedCommon DirectorshipDirectors Fees50-
Peter BrookCommon DirectorshipDirectors Fees70-
66 Surrey LimitedCommon DirectorshipHead office rental430-
Trumpeter Consulting LimitedCommon DirectorshipConsultancy 12-
8) CONTINGENCIES
There were no contingent liabilities as at 30 September 2017 (2016: Nil).
9) CAPITAL EXPENDITURE COMMITMENTS
There was no capital expenditure commitment as at 30 September 2017 (2016: Nil).
10) EVENTS AFTER BALANCE DATE
There were no material events after 30 September 2017.
11) REACQUIRED RIGHTS
An independent valuation to assess the value of the reacquired rights was completed giving a valuation of
$250,760.
The reacquired right portion of the goodwill amount will be amortised over the residual life of the franchise
being 9.5 years.
This reacquired right is included in the Intangible Assets on the Statement of Financial Position.

AS PART OF THE BURGERFUEL ENVIRO-MENTAL PROGRAMME, ALL EFFORTS HAVE BEEN MADE TO NOT KILL A TREE BY
DISTRIBUTING THIS ELECTRONICALLY. PLEASE CONSIDER MOTHER EARTH BEFORE PRINTING.