Cafédirect Trading Update
The Directors of Cafédirect plc are pleased to update you further to the AGM on the 27th June 2018 with an unaudited trading update as follows:
1. Gross Sales Revenue to the end of August 2018
The Company achieved gross sales of £7.973m to the end of August 2018, an increase of £0.488m on 2017, and a 6.5 % increase year to date
2. Profit before Tax to the end of August 2018
The Directors are delighted to report a return to profitability on a year to date basis, with a profit before tax of £36,000 to the end of August 2018, an improvement of £220,000 on 2017, when a loss of (£184,000) occurred.
The Company has passed its covenant tests each month with regard to gross sales value and net profit.
3. Balance sheet & cash position as at end of August 2018
Further to the successful refinancing of 2017 and the improvement trading performance to date the total assets of the Company at the end of August are £1.3m higher than the same point of time in 2017. Furthermore the cash position is £678k, an improvement of £1.436m as compared to the same point in time in 2017 when the cash position was (£758k).