Burger Fuel Group Ltd Half Year Results – 30 September 2021

2






Burger Fuel Group Limited
Consolidated Interim Financial Statements
For the Period Ended 30 September 2021



Contents Page


Chairman and Chief Executive’s Review 3-5

Consolidated Condensed Statement of Comprehensive Income 6

Consolidated Condensed Statement of Financial Position 7-8

Consolidated Condensed Statement of Changes in Equity 9

Consolidated Condensed Statement of Cash Flows 10

Notes to the Consolidated Interim Financial Statements 11-14

3
Burger Fuel Group Limited
Chairman and Chief Executive’s Review
For the period ended 30 September 2021

Burger Fuel Group Ltd Half Year Results for the 6 months ended 30 September 2021

OVERVIEW

The Directors of Burger Fuel Group Limited (BFG) present the unaudited results for the 6 months to 30 September 2021.

Net Profit after tax for the period was $404,525 compared to $358,901 in the same period last year. This represents an
increase of 12.7%. The results include revenue of a non-cash nature of $221,000 required to be recognised under IFRS15
“Revenue from Contract with Customers”.

Group Operating Revenue (excluding IFRS 16 and the Government support income) increased by 15.8% on the same period
last year to $9.4M. This is mainly due to increased sales across the system (royalty income) and the additional sales revenue
from the opening of the company owned Winner Winner store in Takapuna.

Under NZ IFRS 15 “Revenue from Contract with Customers” any Franchise fees or Licence fees received, are required to be
spread over the term of the agreement. Our Master Licence Agreement (MLA) for Egypt was due to expire in September
2031, but our efforts to continue with our brand in Egypt were abandoned and it was agreed to terminate the MLA in June
2021. With this termination, under IFRS 15 we are required to recognise the remaining term of the agreement ($221,000) as
revenue in our financial statements. This was a non-cash item and therefore did not increase our cash position.

The Group has no debt and as at 30 September 2021 had cash reserves of $6.8M.


BFG RESULTS (UNAUDITED) FOR THE PERIOD 1 APRIL TO 30 SEPTEMBER 2021

30 September 2021 30 September 2020
$000 $000

Operating Revenue * 9,439 8,151
Interest Income – IFRS 16 non-occupied leases 651 688
COVID-19 Government wage subsidy 372 868
Total Income 10,462 9,707

Operating Expenses ** (8,651) (7,944)
Depreciation Expense – IFRS 16 occupied leases
(386) (332)
Interest Expense - IFRS 16 non-occupied leases
(651) (688)
Interest Expense - IFRS 16 occupied leases
(247) (235)
Total Expenses
(9,935) (9,199)




Net Profit (Loss) Before Tax 527 508
Net Profit (Loss) After Tax *** 405 359


* Revenue includes: Operating revenue and interest income but excludes COVID-19 related Government grants and interest income on non-
occupied leases.
** Expenses include: Operating expenses, depreciation, amortisation and interest expense.
*** The New Zealand entities had taxable income and were unable to utilise the foreign tax losses. The overseas entities had minimal tax.


GROUP PERFORMANCE

Total system sales were $45.6m, for the period representing an increase of 11.63% over the same period last year. The
increase is mainly due to the opening of the franchised BurgerFuel Whangarei store the company owned Winner Winner
restaurant in Takapuna and the franchised BurgerFuel Faisaliyah store in Saudi Arabia.

Total store numbers globally are 77 as at 30 September 2021 with the closing of the Rabwa store in Saudi Arabia. The new
brands, Winner Winner and Shake Out accounted for 6.8% of total systems sales and international sales accounted for
13.6%.

4



Group Net Profit After Tax was up $46K (12.7%) on the same period last year. This was due to the additional revenue
booked for the cancellation of the Egypt MLA, but we also had additional costs with establishing our new brands including
our company owned Winner Winner restaurant, which with the long and ongoing lockdown in Auckland, is not performing
as well as anticipated and is impacting our Group results.

The reduced revenue due to COVID-19 was however assisted by rent relief provided by most of our landlords and the
Government wage subsidy and resurgence payment support.

OPERATING RESULTS

BurgerFuel New Zealand

Total sales for the period were up 11.7% on the previous year. This was due to additional trading days in the 6 months to 30
Sept 2021 compared to the previous year, and also the opening of the franchised BurgerFuel Whangarei store in March 2021.

The nationwide COVID-19 Alert Level 4 lockdown from the 18th of August 2021 to the 22
nd
of September 2021 for the
Auckland stores (and to the 1
st
of September 2021 for the rest of the country) impacted the total system sales for the Group.

Comparing lost sales days due to the lockdown for the same 6-month period in FY21 & FY22, the Auckland stores have had
8 less trading days in FY22 and the remaining stores have had 13 more trading days in FY22 compared to FY21.

Following the country’s move to Alert Level 3 all BurgerFuel stores remain open. In Auckland all stores operate on a click
and collect basis whilst under Alert Level 3. Other than our inner-city stores, sales have been strong across the system since
re-opening. Alert levels continue to change across the country and accordingly our customers’ ability to dine in is tied to the
Government’s decisions around the various levels.


BurgerFuel Middle East (MENA)

The Middle East business total sales comparison for the first half of this year records an increase of 4.8% due the opening of
Dammam Faisaliyah store in Saudi. Currently we are not receiving any royalty income from the MENA region, while we
assist our partners in that region, to recover from the global pandemic.

As noted in our AGM in August 2021, the future of the Middle East remains uncertain at this stage. We expect conditions in
the Middle East (both UAE and Saudi Arabia) to remain challenging for the foreseeable future.


Winner Winner & Shake Out New Zealand

Sales for the new brands are up 25.9% on the previous 6 months mainly due to the opening of the Winner Winner Takapuna
company owned store.

We have not opened any new Shake Out stores due to the COVID-19 environment that we currently operate in, and the
Shake Out brand remains at 3 stores. The locations in Palmerston North and Hamilton continue to trade reasonably well,
given this a new and unestablished brand. The company owned Smales Farm store in Takapuna is located within an office
complex and as such continues to face difficult trading conditions due to the COVID-19 working from home requirements.
Shake Out has been a “contactless & cashless” brand since its inception, so the COVID-19 restrictions were relatively easy
to implement.

The Winner Winner brand now has 4 stores with the opening of a company owned store in 16 Anzac Street, Takapuna on 30
November 2020. This brand and particularly the new restaurant in Takapuna continues to be significantly affected by the
COVID-19 alert level system. Unlike our famous brand BurgerFuel, Winner Winner is unknown and the constant stops and
starts in and out of alert levels is taking its toll on some of the restaurants, but especially Takapuna.

GROUP OUTLOOK

The Group’s Chief Operating Officer Tyrone Foley resigned in September 2021, but we were pleased to announce his
appointment to the board on the 27
th
October 2021, as a non-independent director.

There have been no further developments regarding the KPMG strategic review, and this is likely to remain on hold until we
can see how the impact of the COVID-19 pandemic unfolds in 2022.

5
There is no question that COVID-19 has significantly affected our ability to undertake development in the later part of this
half year. At this point we are unclear how trading will materialise next year and under the new Government vaccine
mandates being introduced within the hospitality sector, in New Zealand.

We are confident that the BurgerFuel brand which has proven to be robust throughout the pandemic alert levels, will remain
stable and continue to deliver a solid performance for the group. However, the new brands are less certain and whilst Shake
Out is performing well enough, Winner Winner is far more affected in certain areas.

We are not confident to undertake future development of the new brands at this point, until we can see an end to the
pandemic alert levels and lockdowns. FY22 continues to be affected by the cycling in and out of alert levels and we will not
know if performance will improve or not for some months yet. It is likely to be a rather flat, full year result with little or no
further development being undertaken, prior to 31 March 2022.

That said, the Group maintains strong cash reserves and as always, we will continue to review any opportunities for
development of current brands and future company growth that may present themselves in the new future.

We would like to thank all shareholders, staff, franchisees, suppliers and of course our valued customers for their support.

Best regards


Peter Brook

Josef Roberts
Chairman Group CEO

6


Burger Fuel Group Limited
Consolidated Condensed Statement of Comprehensive Income
For the period ended 30 September 2021




Unaudited Unaudited Audited

30 Sep
2021

30 Sep
2020
31 Mar
2021


6 months 6 months
Full Year


$’000

$’000
$’000






Revenue
9,429 8,128 18,616
COVID-19 Government wage subsidy
372 868 934
Operating Expenses
(8,354) (7,651) (16,323)
Transfer from Foreign currency reserve on windup of
subsidiary - - (131)
Profit before interest, taxation, depreciation and
amortisation 1,447 1,345 3,096


Depreciation on Property, Plant and Equipment
227 222 477
Depreciation on Right of Use Assets
386 332 699
Amortisation
70 71 142

683 625 1,318


Profit / (Loss) before Interest and Taxation
764 720 1,778


Interest Income
10 23 39
Interest Income leases non-occupied
651 688 1,381
Interest Expense
- - -
Interest Expense leases occupied
(247) (235) (481)
Interest Expense leases non-occupied
(651) (688) (1,381)

(237) (212) (442)
Profit / (Loss) before Taxation
527 508 1,336


Income Tax Expense
122 149 623


Net Profit / (Loss) attributable to shareholders
405 359 713


Other comprehensive income:

Items that may be reclassified subsequently to profit
or loss:
Movement in Foreign Currency Translation Reserve
33 60 12


Total comprehensive income
438 419 725


Basic Net Earnings per Share (cents)
0.80 0.67 1.37
Diluted Earnings per Share (cents)
0.80 0.67 1.37

7


Burger Fuel Group Limited
Consolidated Condensed Statement of Financial Position
As at 30 September 2021


Unaudited Unaudited Audited


30 Sep
2021

30 Sep
2020
31 Mar
2021
6 months 6 months Full Year
$’000 $’000 $’000
Shareholders’ Equity

Contributed equity
11,913 13,595 11,913
Accumulated losses
(862) (1,621) (1,267)
Foreign currency translation reserve
(265) (381) (298)

10,786 11,593 10,348
Current assets

Cash and cash equivalents
6,763 6,770 7,114
Trade and other receivables
1,310 3,092 2,076
Lease Receivable non-occupied
1,611 1,518 1,554
Inventories
688 509 548
Loans
23 174 128

10,395 12,063 11,420
Non-current assets

Property, plant and equipment
2,474 2,429 2,610
Right of use asset - leases
8,060 7,579 8,375
Lease receivable non-occupied
19,065 20,497 20,947
Deferred tax asset
529 694 616
Loans
110 123 110
Intangible assets
1,973 2,256 2,044

32,211 33,578 34,702
Total assets
42,606 45,641 46,122

Current liabilities

Trade and other payables
635 1,478 1,857
Contract Liability
364 329 284
Lease Liability
605 432 512
Lease Liability non-occupied
1,611 1,518 1,554
Income tax payable
66 172 525
Provisions
493 465 438

3,774 4,394 5,170
Non-current liabilities

Contract Liability
831 1,619 1,245
Lease Liability
8,109 7,498 8,372
Lease Liability non-occupied
19,065 20,497 20,947
Provisions
41 40 40

28,046 29,654 30,604
Total liabilities
31,820 34,048 35,774

Net assets
10,786 11,593 10,348

8

Burger Fuel Group Limited
Consolidated Condensed Statement of Financial Position (continued)
As at 30 September 2021

Unaudited Unaudited Audited


30 Sep
2021

30 Sep
2020
31 Mar
2021


Net Tangible Assets per Share (cents) 16.00 16.10 15.0



For and on behalf of the Board on 26
th
November 2021

Peter Brook Josef Roberts
Director Director

9

Burger Fuel Group Limited
Consolidated Condensed Statement of Changes in Equity
For the period ended 30 September 2021



September 2021

Contributed
Equity
Foreign
currency
translation
reserve
Accumulated
Losses Total equity

$’000 $’000 $’000 $’000
Balance as at 1 April 2021
11,913 (298) (1,267) 10,348
Movement in foreign currency translation
reserve recognised in other comprehensive
income

- 33 - 33
Net Profit for the period ended 30
September 2021

- - 405 405
Total comprehensive income

- 33 405 438



Balance as at 30 September 2021

11,913 (265) (862) 10,786


September 2020

Contributed
Equity
Foreign
currency
translation
reserve
Accumulated
Losses Total equity
$’000 $’000 $’000 $’000
Balance as at 1 April 2020
13,595 (441) (1,980) 11,174
Movement in foreign currency translation
reserve recognised in other comprehensive
income

- 60 - 60
Net Profit for the period ended 30
September 2020

- - 359 359
Total comprehensive income

- 60 359 419



Balance as at 30 September 2020

13,595 (381) (1,621) 11,593






March 2021

Contributed
Equity
Foreign
currency
translation
reserve
Accumulated
Losses Total equity
$’000 $’000 $’000 $’000
Balance as at 1 April 2020

13,595 (441) (1,980) 11,174
Buy Back and Share cancellation

(1,682) - - (1,682)
Reclassification of FX translation reserve
on windup of USA subsidiary

- 131 - 131
Movement in foreign currency translation
reserve recognised in other comprehensive
income

- 12 - 12
Net loss for the year ended 31 March 2021

- - 713 713
Total comprehensive income

- 12 713 725



Balance as at 31 March 2021

11,913 (298) (1,267) 10,348

10

Burger Fuel Group Limited
Consolidated Condensed Statement of Cash Flows
For the period ended 30 September 2021

Unaudited Unaudited Audited


30 Sep
2021

30 Sep
2020
31 Mar
2021



6 months 6 months
12 months
$’000 $’000 $’000
Cash flows from operating activities
Receipts from customers
10,120 8,329 18,553
COVID-19 Government wage subsidy
380 868 445
Interest received
10 23 39
Goods and services tax
(35) (4) (80)
Payments to suppliers & employees
(9,921) (7,678) (15,588)
Interest paid
- - -
Interest on leases
(234) (235) (452)
Taxes paid
(495) 203 187
Net cash flow provided from / (applied to)
operating activities (175) 1,506 3,104


Cash flows from investing activities
Loan repayments 105 1 71
Sale of property, plant and equipment 55 123 122
Acquisition of intangible assets
- (6) (7)
Advance to supplier, franchisee
- 10 -
Acquisition of property, plant & equipment
(136) (213) (691)
Net cash flow applied to investing activities
24 (85) (505)






Cash flows from financing activities

Lease Liability
(230) (213) (398)
Share buyback & cancellation
- - (700)
Net cash flows applied to financing activities
(230) (213) (1,098)

Net movement in cash and cash equivalents
(381) 1,208 1,501
Exchange gain / (loss) on cash and cash equivalents
30 (8) 43
Opening cash and cash equivalents
7,114 5,570 5,570
Closing cash and cash equivalents
6,763 6,770 7,114

11
Burger Fuel Group Limited
Notes to the Interim Consolidated Financial Statements
For the period ended 30 September 2021

1) REPORTING ENTITIES AND STATUTORY BASE

Burger Fuel Group Limited is a company registered under the Companies Act 1993 and is listed with the New Zealand
Stock Exchange (NZX). 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. These Interim Consolidated
Financial Statements also comply with NZ IAS 34 and have been prepared on a going concern basis.

The financial statements presented are those of Burger Fuel Group 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 & chicken 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 should be read in conjunction with the annual financial
statements for the year ended 31 March 2021, which have been prepared in accordance with NZ IFRS.

2.2) REPORTING ENTITY

The consolidated financial statements for the Group are for the economic entity comprising Burger Fuel Group Limited
and its subsidiaries;
Burger Fuel (Dubai) NZ Limited BF Lease Company No 9 Limited BF Lease Company No 34 Limited
Burger Fuel (ME) DMCC BF Lease Company No 10 Limited BF Lease Company No 35 Limited
Burger Fuel International Limited BF Lease Company No 11 Limited BF Lease Company No 36 Limited
Burger Fuel (Australia) Pty Limited BF Lease Company No 12 Limited BF Lease Company No 37 Limited
Burger Fuel (Australia) No2 Pty Limited BF Lease Company No 13 Limited BF Lease Company No 38 Limited
Burger Fuel International Management Limited BF Lease Company No 14 Limited BF Lease Company No 39 Limited
Burger Fuel Limited BF Lease Company No 15 Limited BF Lease Company No 40 Limited
BurgerFuel Henderson Limited BF Lease Company No 16 Limited BF Lease Company No 41 Limited
Burger Fuel Takapuna Limited BF Lease Company No 17 Limited BF Lease Company No 42 Limited
Winner Winner Limited BF Lease Company No 18 Limited BF Lease Company No 43 Limited
Shake Out Limited BF Lease Company No 19 Limited BF Lease Company No 44 Limited
Concept Brands Limited BF Lease Company No 20 Limited BF Lease Company No 45 Limited
Burger Fuel Pty Limited BF Lease Company No 21 Limited BF Lease Company No 46 Limited
Burger Fuel Australia Pty Limited BF Lease Company No 22 Limited BF Lease Company No 47 Limited
BF Lease Company Limited BF Lease Company No 23 Limited BF Lease Company No 48 Limited
BF Lease Company No 1 Limited BF Lease Company No 24 Limited Burger Fuel Group Leases Limited
BF Lease Company No 2 Limited BF Lease Company No 25 Limited Burger Fuel Worldwide Limited
BF Lease Company No 3 Limited BF Lease Company No 26 Limited

BF Lease Company No 4 Limited BF Lease Company No 27 Limited

BF Lease Company No 5 Limited BF Lease Company No 28 Limited

BF Lease Company No 6 Limited BF Lease Company No 29 Limited

BF Lease Company No 7 Limited BF Lease Company No 30 Limited

BF Lease Company No 8 Limited BF Lease Company No 31 Limited

Shake Out Newmarket Limited
BF Lease Company No 32 Limited

Shake Out Container Limited
BF Lease Company No 33 Limited


3) ACCOUNTING POLICIES
The accounting policies and methods of computation applied are consistent with those of the annual financial statements
for the year ended 31 March 2021, as described in the annual financial statements.

12
Burger Fuel Group Limited
Notes to the Interim Consolidated Financial Statements
For the period ended 30 September 2021

4) SEGMENT INFORMATION

Operating Segments
The Group operates in two geographical segments – New Zealand & International (Australia 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 2021
New Zealand
International Total

$’000 $’000 $’000
Revenue
6 months
6 months
6 months
Sales
3,732
- 3,732
Royalties
2,418
(6) 2,412
Franchising fees
113
237 350
Training fees
-
- -
Property Management fees
57
- 57
Advertising fees
1,698
- 1,698
Foreign exchange gain
29
(32) (3)
Sundry income
1,091
(1) 1,090
Rent Relief on Non-Occupied Leases
93
- 93
Interest received
10
- 10
Interest received - leases
651
- 651
COVID-19 Government wage subsidy
372
- 372
Total Revenue 10,264 198 10,462

Interest Expense leases occupied
247 - 247
Interest Expense leases non-occupied
651 - 651
Depreciation
226 1 227
Depreciation leases
386 - 386
Amortisation
70 - 70
Segment Result before Tax
423 104 527
Income Tax Expense 122 - 122
Segment Assets 42,249 357 42,606
Segment Liabilities 31,687 133 31,820

Acquisition of Property, Plant & Equipment & Intangible Assets

Other 136 - 136

13
Operating Segments (Continued)

September 2020
New Zealand
Australia Middle East USA Total


$’000 $’000 $’000 $’000 $’000
Revenue
6 months
6 months 6 months 6 months
6 months
Sales
3,211
- - - 3,211
Royalties
2,077
- 2 - 2,079
Franchising fees

96
- 17 13 126
Training fees
15
- - - 15
Property Management fees
57
- - 57
Advertising fees

1,520
- - - 1,520
Foreign exchange gain
61
69 - (199) (69)
Sundry income
1,089
71 - 29 1,189
Interest received

23
- - - 23
Interest received - leases
688
- - - 688
COVID-19 Government wage subsidy
868
- - - 868
Total Revenue

9,705 140 19 (157) 9,707

Interest Expense leases occupied
235 - - - 235
Interest Expense leases non-occupied
688 - - - 688
Depreciation
221 - 1 - 222
Depreciation leases
332 - - - 332
Amortisation
71 - - - 71
Segment Result before Tax

616 136 (69)
(175)
508
Income Tax Expense 149 - - - 149
Segment Assets 43,998 642 68 933 45,641
Segment Liabilities 33,953 15 77 3 34,048

Acquisition of Property, Plant & Equipment & Intangible Assets

Other 219 - - - 219

14
Operating Segments (Continued)



March 2021
New
Zealand
Australia Middle East USA Total


12 months 12 months 12 months 12 months 12 months


$’000 $’000 $’000 $’000 $’000
Revenue



Sales

7,728
- 48 -
7,776
Royalties

4,663
- 159 -
4,822
Franchising fees

243
- 55 -
298
Training fees

30
- - -
30
Property Management fees

57
- - -
57
Advertising fees

3,341
- - -
3,341
Foreign exchange gain

98
46 - (114)
30
Sundry income

1,840
- 9 28
1,877
Rent Relief on Non-Occupied Leases

385
- - -
385
Interest received

38
1 - -
39
Interest on leases

1,381
- - -
1,381
COVID-19 Government wage subsidy

934
- - -
934
Total Revenue
20,738 47 271 (86) 20,970

Interest Expense - - - - -
Interest Expense Leases Occupied 481 - - - 481
Interest Expense Leases non occupied 1,381 - - - 1,381
Depreciation 474 - 3 - 477
Depreciation Leases 699 - - - 699
Amortisation 142 - - - 142

Segment Result Before Tax
1,533
33 7 (237) 1,336
Income Tax Expense
623
- - - 623

Segment Assets 45,756 149 217 - 46,122
Segment Liabilities 35,650 25 99 - 35,774

Acquisition of Property, Plant & Equipment & Intangible Assets

Other 698 - - - 698

15
Burger Fuel Group Limited
Company Directory
As at 30 September 2021


Registered Office Accountants
Grant Thornton New Zealand Limited Grant Thornton New Zealand Limited
152 Fanshawe Street Level 4
Auckland 1011 152 Fanshawe Street

Auckland 1011
Company Number

1947191 Bridgepoint Group Accounting Pty Ltd

Suite 301, 8 West Street,
North Sydney
Date of Incorporation NSW 2060
14 June 2007 Australia

Directors Citrin Cooperman
Peter Brook - Chairman (Independent) 529 Fifth Avenue
Alan Dunn (Independent) New York, NY 10017
Josef Roberts (Executive) USA


Board Executives KPMG
Tyrone Foley (Chief Operating Officer)
Mark Piet (Chief Financial Officer / Company Secretary)
18 Viaduct Harbour Avenue,
Auckland 1140


Business Headquarters
66 Surrey Crescent

Grey Lynn Bankers
Auckland 1021 ASB Bank Limited

CBA Bank Limited (Australia)
Auditor Emirates NBD (UAE)
Baker Tilly Staples Rodway Bank of America Merrill Lynch (USA)
Level 9, Tower Centre

45 Queen Street

Auckland 1010





Solicitors
Dentons Kensington Swan, 18 Viaduct Harbour Avenue, Auckland 1011.
Buddle Findlay, PwC Tower, 188 Quay Street, PO Box 1433, Auckland 1140.
Wiggin and Dana LLP, Two Liberty Place, 50 S. 16th Street, Suite 2925, PA, 19102, USA.
Corporate Counsel Limited Solicitors, P.O Box 37-322, Parnell, Auckland 1151.

Directors and Officers Diversity
NZX listed issuers are required to report quantitative data on the gender breakdown of Directors and
Officers at the financial year end. The policy behind the rule is to provide information to allow investors
to maintain an informed view of diversity as a factor relevant to an Issuer’s expected performance.


30 Sept 2021

30 Sept 2020

Male Female

Male Female
Directors 3 -

3 -
Executive/ Leadership Team 6 1

6 1

Total Head Office Staff 17 15

19 14

16

---

Results for announcement to the market
Name of issuer Burger Fuel Group Limited
Reporting Period 6 months to 30 September 2021
Previous Reporting Period 6 months to 30 September 2020
Currency NZD
Amount (000s) Percentage change
Revenue from continuing
operations
$10,462 7.8%
Total Revenue $10,462 7.8%
Net profit/(loss) from continuing
operations
$405 12.7%
Total net profit/(loss) $405 12.7%
Interim Dividend
Amount per Quoted Equity Security Not Applicable
Imputed amount per Quoted Equity
Security
Not Applicable
Record Date Not Applicable
Dividend Payment Date Not Applicable
Current period Prior comparable period
Net tangible assets per Quoted
Equity Security
$0.16 $0.16
A brief explanation of any of the
figures above necessary to enable
the figures to be understood
Group Operating Revenue (excluding IFRS 16 and the Government support
income) increased by 15.8% on the same period last year to $9.4M. This is
mainly due to increased sales across the system (royalty income) and the
additional sales revenue from the opening of the company owned Winner
Winner store in Takapuna. The results include revenue of a non-cash nature of
$221,000 required to be recognised under IFRS15 “Revenue from Contract
with Customers” for the cancellation of the MLA for Egypt.
Authority for this announcement
Name of person authorised to make
this announcement
Mark Piet
Contact person for this
announcement
Mark Piet
Contact phone number 021 453 333
Contact email address Mark.Piet@Burgerfuel.com
Date of release through MAP 26/11/2021