BFG Preliminary announcement of full year results FY24

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Burger Fuel Group Limited
Preliminary Full Year Results
For The Year Ended 31 March 2024

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Burger Fuel Group Limited
Preliminary Full Year Results
For The Year Ended 31 March 2024

Chairman and Chief Executives’ Review

Burger Fuel Group Limited Preliminary Full Year Results for the 12 months ended 31st March 2024

Overview – FY24

The Directors of Burger Fuel Group Limited (BFG) present the results for the 12 months to 31 March 2024.
(The audit of these results is in the process of being finalised).

Net Profit after tax for the period was $1,327,077 representing a 47.4% increase on the previous year.

The FY24 profit result is the Company’s strongest since listing on the NZX in 2007. It reflects the growth and
investment strategies that the Board has implemented following the considerable disruption to the business from the
Covid years FY20 to FY22 and into FY23.

BFG (unaudited) Total System Sales (all three brands, all regions) increased by 10.22% to $117.1M on the same period
last year. The Group achieved solid store sales in FY24 bolstered by the opening of BurgerFuel Dunedin in April 2023
and with the introduction of delivery through BurgerFuel outlets. We also recorded a complete year of sales for
BurgerFuel Rolleston which opened in October 2022.

Total income for the Group increased by 13.58% to $27.3M.

BFG RESULTS FOR THE PERIOD 1 APRIL 2023 TO 31 March 2024

31 March 2024 31 March 2023
$000 $000

Operating Revenue * 26,248 22,891
Interest Income – IFRS 16 non-occupied leases 1,031 1,089
Covid Government Support - 36
Total Income 27,279 24,016

Operating Expenses ** (22,948) (20,368)
Depreciation Expense – IFRS 16 occupied leases
(982) (829)
Interest Expense - IFRS 16 non-occupied leases
(1,031) (1,089)
Interest Expense - IFRS 16 occupied leases
(432) (471)
Total Expenses
(25,393) (22,757)


Net Profit (Loss) Before Tax 1,886 1,259
Net Profit (Loss) After Tax *** 1,327 900



* Revenue includes: Operating revenue and interest income.
** 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.

As at 31 March 2024 there were 61 BurgerFuel restaurants operating in NZ (1 more than last year) and 4 operating in
the Middle East (3 less than last year) excluding some third party “dark” kitchens operating in the UAE. In April 2024
the BurgerFuel Hereford Street store closed in Christchurch.

As at 31 March 2024 there were 4 Shake Out and 2 Winner Winner restaurants operating in NZ. The Group closed their
underperforming company owned Winner Winner Takapuna store in May 2023 and the franchise agreement for the
Winner Winner store in Pukekohe was terminated in March 2024.

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Return of Capital

The record profit achieved in FY24 was a good result, however it would have been considerably more (circa 70%
increase on FY23) had BFG not been required to incur costs to respond to the opposition that was filed in relation to the
proposed return of capital (by pro-rata share cancellation) to all shareholders.

The return of capital by way of a scheme of arrangement was approved by 92% of votes of shareholders cast at a special
shareholders meeting held on 14 December 2023. However, following the shareholder meeting, a notice of opposition
against the proposed scheme was filed by a single shareholder. This was the only opposition and it resulted in a
considerable amount of cost, delay, and disruption to the proposed capital return process and the business.

On 8 May 2024 a full day hearing was held at the High Court in Auckland to hear and determine BFG's application
seeking Court approval of the proposed return of capital. On 27 May 2024 Justice Andrew issued his decision
approving the proposed return of capital by way of a scheme of arrangement.

The Company spent at least $205,500 in FY24 on legal costs which can be attributed to the notice of opposition
response. It should also be noted that the costs incurred by BFG to address and respond to the opposition are ongoing in
the current FY25 financial year. Approximately a further $200,000 is expected to be incurred in relation to legal and
professional adviser costs for this matter. These material costs have considerably diminished BFG's profit in both FY24
and expected profit in FY25.

Information on the proposed scheme of arrangement, shareholder vote, notice of opposition and approval of the scheme
by the High Court may be found on the NZX or at https://www.burgerfuel.com/nz/investor-relations#shareholder-
information.

The Year’s Results and Group Outlook

New Zealand

The BurgerFuel brand reached a significant milestone in FY24 and achieved over $100 million (unaudited) in NZ
system sales. Total systemwide sales across New Zealand (68 restaurants, all 3 brands) increased by 14.32% on the
previous year.

We opened BurgerFuel Dunedin in April 2023. This store has been well received. At this stage the proposed BurgerFuel
Whanganui store is scheduled to open later in 2024.

Delivery services for BurgerFuel have been rolled out across the NZ system (except the Te Awamutu store)
predominantly through UberEats (and Delivereasy for some of the regional towns). In FY24 the sales uptake was
pleasing, however we are seeing some customer habits shifting from collecting their orders themselves, to now using a
delivery service.

We had been reluctant to implement a delivery service for this reason of potential channel cannibalisation and due to
concerns around delivery quality (time it takes to deliver our product). BurgerFuel burgers do not travel as well as pizza
or other food offers that are more adaptable to transportation and to being re-heated at home. The additional delivery
cost to customers is also significant. We expect that eventually delivery will not add much in the way of incremental
sales to the total system. However, at this stage we will continue to offer this convenience option for those customers
who desire and are prepared to pay for it.

Shake Out total store sales increased by 13.5% in FY24 mainly due to our new company owned Shake Out store in the
Commercial Bay precinct, Auckland CBD. This store opened in November 2022 thus FY24 isn’t benchmarking against
a complete year. During the year we trialled a delivery only “dark” kitchen in Glendene, Auckland. While operationally
it was a success, sales volumes were not enough to make this viable in the short term. It has however allowed us to
develop the brand further and trial other channel options. For example, Shake Out is now available on a virtual basis
(delivery only) in Wellington. We are currently monitoring the results of this trial.

Winner Winner total sales decreased by (28%) mainly due to the closure of our Takapuna company owned store in May
2023. Whilst Winner Winner is a great brand & product, this site never really performed. Affected by Covid and other
factors, we decided to shut the store and minimise losses.

In March 2024, the Winner Winner Pukekohe store also ceased operation and the franchise agreement was terminated.
This site opened strongly just before Covid, however, it never really recovered from that. Winner Winner is more of a
dine-in restaurant concept compared to BurgerFuel and Shake Out, and Covid hit it hard. We now have two stores
under franchise, one in Wellington’s Courtenay Place and one in Hamilton East, which is the original Winner Winner.
There is no significant royalty income from these sites.

For the FY24 the two new brands represented 6.8% of total sales for the Group (7.15% of total NZ sales).

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We love both the new brands Winner Winner and Shake Out. We elected to develop these because of the limited growth
potential of BurgerFuel in New Zealand, which as we noted last year at the AGM, is a brand reaching maturity. The
establishment of new brands takes considerable time and financial investment and accordingly this investment did
impact our FY24 bottom line. In the current economic environment where costs remain high and consumers are not
spending as much, we have elected to park the development of Winner Winner and focus on Shake Out, thereby
reducing total investment costs and risk. We will continue our investment in Shake Out in FY25.

A big issue facing all retail occupants in New Zealand is the unrealistic rental increases being imposed by landlords who
seek an ever-increasing expectation of rising rents. It has reached a point where a growing number of landlord
expectations for retail rents are out of touch with reality and are simply unsustainable. More and more empty tenancies
are appearing in many of the main streets of New Zealand and shopping mall footfall and spend are also down. The
retailers’ tills are simply not ringing to the point that makes it attractive to enter the growing number of food precincts
that are springing up all over the country. This proliferation of food courts together with the overabundance of
standalone food outlets, will no doubt provide challenges for both tenants and landlords in the coming year.

The Middle East

In April 2023 we appointed a new Master Licensee for the entire region. This is effectively a Development Agent (DA)
Agreement structure. Our approach for rejuvenation in the Middle East is considerably different to the model that BFG
built there in earlier years. The past structure of the Middle East meant that our master franchisee could not maintain a
sustainable, financially viable model. Corporate models (where one company owns and operates all stores in the region)
can be vulnerable and often do not provide the returns needed for them to keep investing. Poor site selection and
increased competition also appeared to be a key factor in the demise of BurgerFuel Middle East.

Following an in depth review of the region we decided to salvage what we could of both BurgerFuel UAE and Saudi
Arabia and continue with the brand under a new operating model that proposes to build a more secure franchise system
by allowing less full scale corporate owned and operated stores and more cluster (groups of 3) or if possible,
individually owned and operated franchised stores, that build commitment and strength.

Our “franchisee first” approach to the development of the New Zealand system which has resulted in a strong and
viable franchise model needs to be duplicated in the Middle East. Development will be slow, but we will also have less
exposure to a master licence holder potentially electing to shut down numerous stores in one tranche, as occurred in the
UAE. With a DA Agreement we receive less royalties, but this structure requires less investment. Our investment and
support in this region is elective. We can elect not to invest at all.

In August 2023 the Dubai World Trade Centre store had a complete refit with a new BurgerFuel interior design. This
new look, which is made up of various design elements, has been developed so that it can be incorporated progressively
into any BurgerFuel store. It’s a stage one concept that will be further developed and eventually rolled out in the New
Zealand system over time.

BFG earnings from the Middle East have been non-existent in the past 2 years following Covid but we will now start
receiving modest royalties from the MENA region from April 2024. We are hopeful that our Development Agent will
commence growing the brand in this region in the later part of FY25, but this remains to be seen.

The Middle East system sales were down 35% in FY24. This is due to Saudi Arabia closing 3 underperforming stores.
There are now 3 BurgerFuel stores operating in Saudi Arabia and 1 store in Dubai although Dubai also has some third
party, dark kitchen delivery outlets.

Information Technology (IT) Development

Technology is a growing part of almost every business and certainly this can be said about our industry. Throughout
FY24 the Group rolled out its own online ordering platform with an integrated loyalty app. This release went relatively
smoothly and customer interaction with the loyalty app is going well. We have had a large uptake on the app and we can
now engage with our customers directly, updating them on new specials, promotions and targeted loyalty perks. Loyalty
is managed via our BF MPB (BurgerFuel miles per burger) rewards system.

The BFG IT platform is a result of the ongoing investment we have made and intend to keep making into proprietary IT
systems. The stage one introduction of our own IT system has allowed us to reduce the use of services from some third-
party providers, as their rates began to rise at levels which were concerning. As a franchisor it is always our goal to
provide as many of the required services as possible directly to our franchisees, thereby reducing the need for SaaS
(Software as a service) and other outside providers. This allows us better control over franchisee expenses and data.

We are pleased to advise that in November 2023 we were able to commence the monetising of our stage one IT
investment by way of a monthly, sales percentage-based charge to the system, that allows BFG to earn revenue from
this IT platform but ensures that our franchisees receive value for this service. This revenue assisted with our profit in
the second half of FY24.

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As part of our long-term investment strategy, we intend to continue investment into technology. We are currently
investigating different approaches to IT investment which will include bolstering our current stage one BF app to a stage
two level. We are also considering investment into other areas of technology that our business requires or could benefit
from as we become more reliant on advances in technology.

Governance - Directors

The Board are pleased to announce the appointment of two new independent directors Alan Gourdie (appointed 28
September 2023) and Tristram van der Meijden (appointed 11 April 2024). Details of these directors can be found on
our website or on NZX.

The FY24 year saw the retirement of Alan Dunn as an independent director and Chair Peter Brook has advised of his
intention to retire later in the year. The Company will make an announcement regarding this and any other changes to
the Board in due course.

Summary and Outlook

Despite the challenges posed throughout FY24 we believe the Group achieved a strong result. We note that we are
experiencing rising costs of compliance in many areas of the business. These costs are not just those required to meet
NZX listing requirements but increased legal and other advisers' costs as well as increased management time to ensure
compliance is met. Disappointingly, BFG will have spent approximately $400,000 in various external costs (a bit less
than one third of annual net profit after tax) and many weeks of management's time to address and respond to the single
notice of opposition, against the proposed return of approximately $4M of tax-free capital to its shareholders.

The economy remains tough, and we are cautious about any form of crystal balling as to what we can expect in this
current financial year. Hospitality is extremely challenging. On a store-by-store basis, in some locations, viable
operating numbers are becoming harder to hit. By this we mean not only achieving same store sales growth but also
achieving sustainable metrics around the ever-increasing operating costs which have grown considerably in the past 18
months with rent, labour, utilities, and cost of goods all rising substantially.

It is not possible to increase our retail prices to cover all rising costs as we believe we will lose customers by doing this,
particularly given the cost-of-living crisis all New Zealanders are currently experiencing. There is a necessary balance
that must always be achieved between retail pricing and franchisee/BFG margin. Costs need to be carefully apportioned
taking a long-term view and protecting our customer base whilst also continuing to build value. If we feel it is necessary
to absorb current or future rising costs, this will affect BFG profits in FY25.

The other significant issue we are facing is the escalating costs to build new restaurants. Since 2019 store construction
costs have nearly doubled. In the last 18 months alone build costs are up around 30%. The more expensive a store is to
build, the less franchisees we can attract and the longer the return on investment takes for them to achieve. The
BurgerFuel Whanganui store will potentially be the only new BurgerFuel store opening in FY25.

Across the Group we remain confident that we will achieve a reasonable level of sales in FY25, however judging by the
current state of the economy and sales to date this year, we think this will be flat at best. This is simply the reality of the
economy that is now biting hard and affecting a significant proportion of the population with a lack of disposable spend
and interest rates looking set to remain at current levels for some time yet. We cannot predict how many of our
customers will reduce their frequency or reduce their spend, or both, but we are seeing signs of both occurring in this
financial year.

We reiterate our primary, key growth strategies which are that we will remain investing in BurgerFuel, Shake Out and
technology systems. This year will see more investment into all these areas. It is too early to determine where the
economy will go in the next 6 months, but the sense is that as can be seen over most of the retail sector, it is likely that
we will experience slower sales and ongoing compressed margins. If this continues, profits will be affected more than in
FY24. That said, the Company intends to remain in profit in the current financial year.

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

Best regards,


Peter Brook Josef Roberts
Chairman Group CEO

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Burger Fuel Group Limited
Consolidated Statement of Comprehensive Income
For The Year Ended 31 March 2024


2024

2023



$

$





Revenue

25,949,980

22,799,659
Covid Government wage subsidy

-

35,606
Operating Expenses

(22,356,343)

(19,453,197)
Profit before Interest, Taxation, Depreciation and
Amortisation


3,593,637

3,382,068





Depreciation on Property, Plant and Equipment

(361,020)

(648,444)
Depreciation on Right of Use Assets

(982,435)

(828,911)
Amortisation and impairment

(229,793)

(265,676)

(1,573,248)

(1,743,031)




Profit before Interest and Taxation

2,020,389

1,639,037

Interest Income

297,754

91,600
Interest Income leases non-occupied

1,030,566

1,089,474
Interest Expense

-

(325)
Interest Expense leases occupied

(432,457)

(471,326)
Interest Expense leases non-occupied

(1,030,566)

(1,089,474)



(134,703)

(380,051)



Profit before Taxation

1,885,686

1,258,986



Income Tax Expense

(558,609)

(358,568)






Net Profit attributable to shareholders

1,327,077

900,418



Other comprehensive income:

Items that may be reclassified subsequently to profit or loss:

Movement in Foreign Currency Translation Reserve

(5,425)

1,708




Total comprehensive income

1,321,652

902,126




Basic Earnings per Share (cents)

2.64

1.79





Diluted Earnings per Share (cents)

2.64

1.79

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Burger Fuel Group Limited
Consolidated Statement of Financial Position
As at 31 March 2024


2024

2023
Shareholders’ equity $

$
Contributed equity 11,913,499

11,913,499
Retained earnings 1,536,329

209,252
Foreign currency translation reserve (289,193)

(283,768)


13,160,635


11,838,983
Current assets

Cash and cash equivalents 9,571,160

8,202,024
Trade and other receivables 2,156,732

2,133,744
Return of Capital Direct Costs 215,548 -
Lease Receivable: non-occupied 1,480,505 1,482,830
Contract Asset 35,374 -
Inventories 657,211

578,993
Loans 18,440

16,189

14,134,970

12,413,780
Non-current assets


Property, plant and equipment 2,242,482

2,441,342
Right of use asset - leases 5,864,168 6,687,547
Contract Asset 384,100 -
Lease receivable non-occupied 14,541,682 15,602,844
Deferred tax asset 566,380

618,420
Loans - 29,311
Intangible assets 2,048,342

2,056,255

25,647,154

27,435,719
Total assets

39,782,124

39,849,499
Current liabilities



Trade and other payables 1,888,605

1,853,546
Contract Liability 204,149 195,072
Lease Liability 691,690 731,509
Lease Liability: non-occupied 1,480,505 1,482,830
Contract Liability Franchise fees 46,809 -
Income tax payable 320,095

267,063
Provisions 472,386 345,692
5,104,239 4,875,712
Non-current liabilities
Contract Liability 438,238 610,240
Lease Liability 6,121,086 6,878,478
Lease Liability non-occupied 14,541,682 15,602,844
Contract Liability Franchise Fees 369,502 -
Provisions 46,742 43,242
21,517,250 23,134,804
Total liabilities 26,621,489 28,010,516

Net assets 13,160,635 11,838,983

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Burger Fuel Group Limited
Consolidated Statement of Financial Position
As at 31 March 2024





2024 2023


Net tangible assets per share ($ per share - non-GAAP measure)


0.21


0.18
For and on behalf of the Board who approved these financial statements for issue on 30th May 2024.

Director Director

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Burger Fuel Group Limited
Consolidated Statement of Changes in Equity
For The Year Ended 31 March 2024


2024
Contributed
Equity
Foreign Currency
Translation
Reserve
Retained
earnings
Total
Equity
$ $ $ $




Balance as at 1 April 2023

11,913,499 (283,768) 209,252 11,838,983
Movement in foreign currency translation
reserve recognised in other comprehensive
income

- (5,425) - (5,425)
Net Profit for the year ended 31 March 2024
- - 1,327,077 1,327,077
Total comprehensive income
- (5,425) 1,327,077 1,321,652


Balance as at 31 March 2024
11,913,499 (289,193) 1,536,329 13,160,635


2023




Contributed
Equity
Foreign Currency
Translation
Reserve
Retained
earnings/
(accumulated
losses)
Total
Equity
$ $ $ $




Balance as at 1 April 2022

11,913,499 (285,476) (691,166) 10,936,857
Movement in foreign currency translation
reserve recognised in other comprehensive
income

- 1,708 - 1,708
Net Profit for the year ended 31 March 2023
- - 900,418 900,418
Total comprehensive income
- 1,708 900,418 902,126


Balance as at 31 March 2023
11,913,499 (283,768) 209,252 11,838,983

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Burger Fuel Group Limited
Consolidated Statement of Cash Flows
For The Year Ended 31 March 2024



2024

2023

$

$
Cash flows from operating activities


Receipts from customers
25,903,530 22,567,953
Government support
- 35,606
Interest received
260,251 91,600
Goods and services tax
(54,920) 54,443
Payments to suppliers & employees
(22,300,320) (18,948,977)
Interest Paid
- (325)
Interest on leases
(432,457) (471,326)
Taxes (paid/refund)
(453,536) (248,832)
Net cash flows provided from operating activities
2,922,548 3,080,142


Cash flows from investing activities

Repayments of loans 27,060 28,830
Sale of property, plant and equipment 128,147 187,050
Acquisition of intangible assets
(221,880) (427,050)
Acquisition of property, plant & equipment
(536,584) (815,465)
Net cash flows applied to investing activities
(603,257) (1,026,635)


Cash flows from financing activities

Lease Liability Principal Component


(955,937) (662,486)
Net cash flows applied to financing activities
(955,937) (662,486)


Net movement in cash and cash equivalents
1,363,354 1,391,021
Exchange gains / (loss) on cash and cash equivalents
5,782 12,641
Opening cash and cash equivalents
8,202,024 6,798,362
Closing cash and cash equivalents
9,571,160 8,202,024

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Burger Fuel Group Limited

SEGMENT REPORTING

Operating Segments

The Group operates in two operating segments; these operating segments have been divided into the following
geographical regions, New Zealand and International markets. All the segment’s 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.

The amounts provided to the Board with respect to total liabilities are measured in a manner consistent with that of the
financial statements. These liabilities are allocated based on the operations of the segment.

2024 New Zealand International Consolidated

$ $ $
Revenue

Sales 11,151,620 - 11,151,620
Royalties 6,781,499 - 6,781,499
Franchising fees 228,717 24,991 253,708
Training fees - - -
Property management fees 62,000 - 62,000
Advertising fees 4,863,227 - 4,863,227
Foreign exchange gain - 11,208 11,208
Sundry income 2,616,060 - 2,616,060
Online Ordering 210,658 - 210,658
Interest received 297,625 129 297,754
Interest Leases 1,030,566 - 1,030,566
Total Revenue 27,241,972 36,328 27,278,300



Interest Expense - - -
Interest Expense Leases Occupied 432,457 - 432,457
Interest Expense Leases non occupied 1,030,566 - 1,030,566
Depreciation 361,020 - 361,020
Depreciation Leases 982,435 - 982,435
Amortisation & impairment 229,793 - 229,793

Segment Result before Income Tax 2,170,588 (284,902) 1,885,686
Income Tax Expense 558,609 - 558,609

Segment Assets 39,382,888 399,236 39,782,124
Segment Liabilities 26,597,351 24,138 26,621,489

Acquisition of Property, Plant & Equipment & Intangible Assets


Other 758,464 - 758,464

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Burger Fuel Group Limited

SEGMENT REPORTING (CONTINUED)


2023 New Zealand International Consolidated

$ $ $
Revenue

Sales
9,802,833
-
9,802,833
Royalties
5,868,406
-
5,868,406
Franchising fees
422,010
24,991
447,001
Training fees
37,500
-
37,500
Property management fees
59,000
-
59,000
Advertising fees
4,308,488
-
4,308,488
Foreign exchange gain
19,764
(5,481)
14,283
Sundry income
2,053,328
112,320
2,165,648
Rent Relief on Non-Occupied Leases
96,500
-
96,500
Interest received
91,593
7
91,600
Interest Leases
1,089,474
-
1,089,474
Covid Government wage subsidy
35,606
-
35,606
Total Revenue 23,884,502 131,837 24,016,339



Interest Expense
325
-
325
Interest Expense Leases Occupied
471,326
-
471,326
Interest Expense Leases non occupied
1,089,474
-
1,089,474
Depreciation
648,444
-
648,444
Depreciation Leases
828,911
-
828,911
Amortisation & impairment
265,676
-
265,676

Segment Result before Income Tax
1,637,057
(378,071) 1,258,986
Income Tax Expense
358,568
- 358,568

Segment Assets
39,660,424
189,075 39,849,499
Segment Liabilities
27,986,575
23,941 28,010,516

Acquisition of Property, Plant & Equipment & Intangible Assets


Other 1,242,515 - 1,242,515

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Burger Fuel Group Limited
Company Directory
As at 31 March 2024

NZ Companies Office - Registered Office Accountants
Burger Fuel Group Limited KPMG
66 Surrey Crescent 18 Viaduct Harbour Avenue,
Grey Lynn Auckland 1140
Auckland 1021


Company Number Bridgepoint Group Accounting Pty Ltd
1947191 Suite 301, 8 West Street,

North Sydney
Date of Incorporation NSW 2060
14-Jun-07 Australia

Directors Auditors
Peter Brook - Chairman (Independent) Baker Tilly Staples Rodway
Alan Dunn (Independent) – retired 24/11/2023 Level 9, Tower Centre
Alan Gourdie (Independent) – appointed 28/09/2023
Josef Roberts (Executive)
45 Queen Street
Tyrone Foley (Non-Independent)

Auckland 1010

Board Executives
Mark Piet (Chief Financial Officer / Company Secretary)


Business Headquarters
66 Surrey Crescent
Grey Lynn
Auckland 1021


Bankers
ASB Bank Limited
CBA Bank Limited (Australia)



Solicitors

Dentons Kensington Swan, 18 Viaduct Harbour Avenue, Auckland 1011.

Buddle Findlay, HSBC Tower, 188 Quay Street, PO Box 1433, Auckland 1140.

Wynn Williams PO Box 2401, Shortland Street, Auckland 1140.

Corporate Counsel Limited Solicitors, P.O Box 37-322, Parnell, Auckland 1151

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Burger Fuel Group Limited
Preliminary Full Year Results
For The Year Ended 31 March 2024


Results for announcement to the market
Name of issuer Burger Fuel Group Limited
Reporting Period 12 months to 31 March 2024
Previous Reporting Period 12 months to 31 March 2023
Currency NZD
Amount (000s) Percentage change
Revenue from continuing operations $ 27,278 13.6%
Total Revenue $ 27,278 13.6%
Net profit/(loss) from continuing operations $ 1,327 47.4%
Total net profit/(loss) $ 1,327 47.4%
Interim/Final 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 $0.21 $0.17
A brief explanation of any of the figures above necessary to
enable the figures to be understood
Please refer to the accompanying market announcement and
unaudited financial statements.
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 30/05/2024