RFG lifts forecast

gloria jeansThe retailer behind Gloria Jean’s cafes and Brumby’s bread has lifted its forecast for full year earnings after a bumper first half.

Retail Food Group, which also owns Michel’s Patisserie and the Crust pizza chain, lifted net profit to $21.5 million in the half year to December 31 from $17.3 million, while revenue rose to $33.8 million from $26.5 million.

The company said it was increasing its forecast for an underlying full year net profit to $55 million, $5 million more than its previous forecast.

AAP

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