Half Year Results
Executive Chairman’s Report
The first half of FY21 financial year was dominated by the impact of Covid-19 that slowed the positive momentum that the company had built up at the end of the FY20 year. Despite the Coivd-19 lockdowns and the other related implications which reduced group sales by 50% from $3.8 million to $1.9 million compared to the same period last year the net operating loss increased only slightly from $0.6 million to $0.8 million and the overall loss from continuing operations reduced by $391k from ($1,432)k last year to ($1,041)k in FY21. The comprehensive loss reduced by $708k from ($1,743)k to ($1,035)k. This performance reflects the restructuring changes in the business that are being realized along with the impact of positive government support packages relating to Covid-19 plus the positive impact of the performance of Triple Two Coffee in the UK that was acquired in June 2020.