One to keep an eye on that I increased my holdings in today and will be looking to add more on a pullback as short term profit takers exit. Was a strong reaction from the market today with the share price closing up 17.4% on $1.2Million traded.
About Oliver’s Real Food Limited (ASX:OLI)
Oliver’s Real Food Limited (Oliver’s) listed on the ASX on 21 June 2017 after raising $15m by way of an Initial Public
Offering. Over its 13 year operating history, Oliver’s has established a significant market position providing a Fresh,
Natural and Organic fast food alternative for travellers on Australia’s major arterial highways. Oliver’s Real Food is
believed to be the world’s first "certified organic fast food chain". Oliver’s provides its customers with premium
quality, “real” food that is fresh, natural, & free from additives and preservatives, 7 days a week.
Oliver’s is a conscious business that understands, and is committed to, the interdependency of "all
stakeholders” including our, customers, investors, team members, suppliers, the environment, and the
communities in which we operate.
Quarterly was released today and details are as follows:
Cash receipts for the period were $10.5 million resulting in net operating cash inflow for
the Quarter of $1.8 million, compared to $7.7 million and $5,000 respectively in the
September Quarter.
Year on year same store sales growth for the December Quarter was 5.7% which is ahead
of the prospectus forecast of 5.1%. Group gross margin was 75.6%, which is ahead of the
prospectus forecast due to better results from the implementation of supply chain
initiatives, retail price increases and improved store management
Three new stores were opened during the Quarter being Euroa in Victoria, Port
Macquarie and Bulahdelah in NSW. This brings to seven the number of new stores
opened since ASX listing and total stores to 26 in all.
The Company’s mobile food truck, named “Movable Feast”, has been located at the
newly leased site at Sutton Forest (NSW) since 21 December 2017 and will operate there
until the new Oliver’s Sutton Forest store is opened later in the year.
The company ended the quarter with a cash balance of $2.3 million up by $500k from the
$1.8 million in the September Quarter.
The sale of the freehold property at Maryborough for $1.85 million was settled on 19
January 2018 and these funds have now been banked.
TA wise = strong demand recently has resulted in the share price breaking upward and out of its trading channel. Highest weekly turnover since listing of 7.18Million with 2 more trading days to go. Weekly chart is looking strong with little resistance to hold it back technically.
Please DYOR as this is not a buy or sell recommendation
Cheers
GF
