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Food Revolution Group posts $8.1m FY loss

AAP logoAAP 31/08/2016

Food and beverage maker Food Revolution Group has reported a full-year loss of $8.1 million, six months after debuting on the ASX.

The Victoria-based company, which debuted on the Australian Securities Exchange following a reverse takeover of gold miner Crest Minerals, says its annual loss more than doubled from $3.7 million the previous year but that distribution deals with Woolworths, Coles, IGA and BP service stations mean it is well positioned for significant growth.

Food Revolution has forecast sales of between $36 million and $46 million for 2016/17, with underlying earnings of $3.2 million to $3.8 million - up from $21.0 million and $754,000, respectively.

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