Pure Foods Tasmania : Activities Statement and Appendix 4C

	Pure Foods Tasmania Ltd
	100 -104 Mornington Rd
	Mornington TAS 7018
	ASX: PFT
only	[phone]
www.purefoodstas.com
ASX Announcement

Pure Foods Tasmania Limited (ASX: PFT)

25 July 2022

use	Quarterly Activities Report for Q4 FY22
Strong Revenue for group sales up 34% full year FY22 v full year FY21
Potato & Gravy back in Woolworths stores*

Pure Foods Tasmania Ltd (ASX:PFT) ('PFT' or 'the Company') provides its Quarterly Activities Report and Appendix 4C for the quarter ended 30 June 2022. Unless otherwise stated all financial results are unaudited.

FINANCIAL HIGHLIGHTS

personal	 Q3 FY22 sales revenue of $2.20 million, up 17% vs Q4 FY21
 Full year FY22 sales revenue up 34% from $7.74m in FY21 to $10.39m
 The Cashew Creamery sales up 553% from Q4 FY22 of $124.5k vs Q4 FY21 of $19.1k
 Plant-based foods segment sales up 78% from Q4 FY22 of $189.8k vs Q4 FY21 of $106.5k
 Strong revenue growth across all divisions and PFT has also passed on cost increases to
all sales channels in Q4 FY22.
 Net cash of $2.49 million as at 30 June 2022 provides capital for continued investment to
expand product ranging, lift manufacturing capacity, improve automation and explore
complementary new products.

OPERATIONAL HIGHLIGHTS

For

• *Daly Potato Co new Potato & Gravy 100% recyclable packaging will be back in Woolworths stores in QLD & TAS in early September (see image attached)
• 553% increase in sales of four-packs with The Cashew Creamery. This has been driven by the success of five flavours, ranged in Woolworths Metro stores in addition to IGA stores the brand continues to out preform all expectations
• Woodbridge Smokehouse sales up 26% in Q4 FY22 v Q4 FY21 reflecting strong demand driven by export and IGA sales within Australia
• Plant-basedfoods segment expanded with the launch of our new cashew cream cheese spreads

Pure Foods Tasmania Ltd 100 -104Mornington Rd Mornington TAS 7018 ASX: PFT [phone]

www.purefoodstas.com

onlyPotato & Gravy moves to 100% Recyclable Packaging available in Woolworths stores in early September in both QLD & TAS

use

Michael Cooper, Managing Director and CEO, highlighted, "Over the quarter we have continued to personaldeliver exceptional results and strong performance across our business segments. This demonstrates the ongoing successful execution of our strategy, and more importantly of the strong

customer demand for our quality range of products".

Launched in Q4 FY22 Premium Plant-Based Cashew Cream Cheese range For

The 4 flavours will be available in TAS, VIC, NSW, QLD with SA & WA to follow in Q1 FY23.

Pure Foods Tasmania Ltd 100 -104Mornington Rd Mornington TAS 7018 ASX: PFT [phone]

www.purefoodstas.com

onlyFINANCIAL REVIEW

PFT delivered $2.20 million in sales for Q4 FY22, a 17% increase on the previous corresponding period. The significant increase in sales is a result of our increased product offering, expanded distribution and continued product development. PFT has also been challenged by increasing raw material costs and is working with its suppliers to reduce this impact. PFT has increased its selling prices to customers during Q4 FY22 and has further increases approved during Q1 FY23. It is

usexpected that Woodbridge Smokehouse sales will soften in Q1 FY23 as a result.

PFT spent a total of $3.34 million on business activities during Q4 FY22 (Q3 FY22 = $3.84 million), a 13.2% decrease on the prior quarter. Expenditure for the quarter comprised of approximately $1.86 million for product manufacturing and operating costs, $1.16 million for staff costs, $0.20 million for administration and corporate costs and $0.12 million for advertising and marketing. PFT also

received the FY21 R&D tax incentive in Q4 FY22 of $0.20 million.

personalOn capital expenditure for the quarterQ4 FY22 PFT spent $96k to bring YTD capital expenditure to $1.85 million.

OPERATIONAL REVIEW

The quarter saw strong demand across PFT's product portfolio. Key operational highlights include:

Woodbridge Smokehouse: Revenue in Q4 FY22 with sales up 26% vs PCP this was driven by our growing distribution channels within Australia and Asia and growing demand.

Daly Potato Co: Delivered revenue of $465,219 in Q4 FY22. There was a strong focus on securing and validating new packaging for Potato & Gravy which is relaunching in early September 2022.

Tasmanian Pate: Homestead SKUs ranged during FY22 continues to grow sales with a 12% increase Forin Q4 v PCP. Q1 FY23 will see installation of new plant and equipment to create automation and

efficiencies.

The Cashew Creamery: Sales continue to grow with sales in Q4 FY22 growing at 553% vs Q4 Y22. New plant & equipment is being installed in Q1 FY23 to support demand, further improve quality and allow for further product extension.

Lauds Plant-BasedFoods: Fresh updated packaging has delivered new consumers to the brand, in Q1 FY23. New products will be launched to extend our distribution into other sales channels.

Pure Foods Tasmania Ltd 100 -104Mornington Rd Mornington TAS 7018 ASX: PFT [phone]

www.purefoodstas.com

CORPORATE

As detailed in the attached ASX Appendix 4C, the Company had $2.49 million in cash and $1.54
million in undrawn facilities as at 30th June 2022.
only
Payments of $33,000 were made to related parties and their associates during the quarter, as noted
in Section 6 of Appendix 4C.
use	---ends---

This announcement has been authorised and approved by the Board of PFT.

For further information, please contact:

Corporate	Investor Relations
Michael Cooper	Jonathon Feil
Managing Director	[e-mail]
[phone]	[phone]
personal
About Pure Foods Tasmania (PFT)

ForPure Foods Tasmania Pty Ltd was formed in 2015 with the aim to enhance and promote Tasmania's premium food and beverage businesses. PFT's strategy is to develop new premium products within our existing brands and in the plant-based food market, to acquire complementary brands and

businesses and to increase our market penetration and distribution for our suite of brands and products globally. PFT's suite of brands and businesses include Woodbridge Smokehouse, Tasmanian Pate, Daly Potato Co, Pure Tasmanian Seafood, Lauds Plant-Based Foods, The Cashew Creamery and New Pastures.

purefoodstas.com

For personal use only

Rule 4.7B

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

Name of entity

Pure Foods Tasmania Limited
ABN	Quarter ended ("current quarter")
13112682158	30th June 2022

Consolidated statement of cash flows	Current quarter	Year to date
			$A'000	(12 months)
				$A'000
1.	Cash flows from operating activities
1.1	Receipts from customers	2,136	9,830
1.2	Payments for
	(a)	research and development
	(b) product manufacturing and operating	(1,861)	(8,005)
		costs
	(c)	advertising and marketing	(118)	(375)
	(d)	leased assets	(3)	(6)
	(e)	staff costs	(1,156)	(4,849)
	(f) administration and corporate costs	(202)	(805)
1.3	Dividends received (see note 3)
1.4	Interest received	11	24
1.5	Interest and other costs of finance paid	(12)	(69)
1.6	Income taxes paid
1.7	Government grants and tax incentives	200	200
1.8	Other (provide details if material)	(20)	192
1.9	Net cash from / (used in) operating	(1,025)	(3,863)
	activities
2.	Cash flows from investing activities
2.1	Payments to acquire or for:
	(a)	entities	0	(40)
	(b)	businesses
	(c) property, plant and equipment	(95)	(1,736)
	(d)	investments
	(e)	intellectual property	0	(4)
	(f)	other non-current assets	0	(70)

ASX Listing Rules Appendix 4C (17/07/20)	Page 1
+ See chapter 19 of the ASX Listing Rules for defined terms.