AUSTRALIA: Allied Brands reports return to profitability ahead of schedule
Allied Brands has said that it expects to return to profitability in the first quarter. Previous guidance had forecast a loss for the September quarter, the company said.
For the first time in its listed history, Allied Brands reported a profit for the winter season, registering a A$215,000 (US$162,927) profit.
The company said in a statement to the Australian stock exchange that brand health had improved with same-store-sales up 10%, ahead of market forecasts.
Allied Brands' convertible note issue was closed oversubscribed, with A$300,000 of the capital raised used for additional working capital, A$700,000 used to repay debts and the balance of A$1,500,000 being held to fund future acquisitions.
Companies: Allied Brands
Ice cream retailer Allied Brands has announced the acquisition of biscuit and coffee franchise Cookie Man for A5.83m (US$4,58m)....
Allied Brands today (29 September) said that the company is likely to beat profit guidance in the current quarter thanks to buoyant market conditions....
Allied Brands, which operates the Baskin Robbins franchise in Australia, has announced the appointment of Murray d'Almeida as director and board chairman with immediate effect....
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