Food and beverage company, The Food Revolution Group, has announced strong first half year results with the company positioned for growth after a busy six months.
The Food Revolution Group achieved earnings (EBITDA) of $745,000 for FY2016 with sales growth of 22 per cent year on year (or 71 per cent annualised). The food and beverage manufacturer achieved gross sales(excluding other income) for FY16 of $21 million.
Bill Nikolovski Food Revolution Group CEO, said he was pleased with the achievements of the company.
“It has been a busy six months, but it has been incredibly pleasing to see the execution of our strategy. With the sale of our NZ business … [The Food Revolution Group] will focus on growing our retail business through establishing further distribution channels and launching a number of new products.”
Formerly known as Lang Tech International Pty Ltd, the company completed a reverse takeover of Crest Minerals Limited and renamed to The Food Revolution Group earlier this year. It commenced trading on the Australians Securities Exchange in February 2016.
Product development and expansion
The Food Revolution Group operates state-of-the-art fruit and vegetable processing facilities in Victoria and New Zealand. The company manufactures a range of juices, fibres, infused fruits and waters and bio-actives and its Australian beverage brands include Badu, The Juice Lab and Mixologist.
The Food Revolution Group launched 27 new products in the category via distribution agreements with Coles, Woolworths, IGA and BP, with more products set to launch during FY2017.
The company’s Badu infused water is a zero-calorie drinking alternative for the health conscious while its The Juice Lab range offers premium pressed fruit and vegetable juice and smoothies. The Mixologist range offers lightly carbonated beverages made from a blend of fruit juice and hints of botanicals.
Together the company’s Badu, The Juice Lab and Mixologist brands achieved more than 400 per cent growth year on year. Internationally, the company is focussed on growth in key overseas markets, including China.