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ROOLIFE GROUP LTD — Earnings Release 2021
Aug 30, 2021
65712_rns_2021-08-30_6f4ef42a-1af1-4d0c-816a-2d1690e2c08f.pdf
Earnings Release
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31 August 2021
Annual Report and Financial Result FY2021
HIGHLIGHTS OF FY2021
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Revenue & Income up 183% to $9.61m plus $0.51m Deferred Revenue for which payment is due in FY2022
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Cash Receipts Up 183% to $9.38m
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Cash at bank at 30 June 2021 of $3.81m plus placement funds of $1.70m received in the first week of July 2021
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Trade Receivables of $1.04m and Trade Payables of $0.84m at 30 June 2021
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Operating loss of $4.99m inclusive of $1.87m non-cash items including impairment costs now not carried into FY2022 and beyond, reducing ongoing expenses
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Development and delivery of RLG’s technology systems connecting Brands & Products directly to Customers, driving the strong sales growth
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The combination of RLG’s technology with defined product and customer base and strong pipeline of opportunities expected to drive the Company towards profitability in FY2022
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RooLife Group Ltd (ASX:RLG) (“ RLG ” or the “ Company ”) is pleased to announce its financial results and provide its Annual Report for FY2021.
The Company has rounded out FY2021 having achieved a number of pleasing milestones in the growth of its business model and systems which connect global producers and brands directly with consumers, delivering revenue and income of $9.61m in FY2021 (up 183%) with cash collected of $9.38m (up 183%).
During the year the Company developed and delivered its technology stack connecting Brands and Producers directly to Customers, with the Company experiencing high demand and achieving strong growth in product sales driven by COVID-19 travel restrictions, the evolution of shopping online and the demand for fresh food and health products and is aiming to continue expansion of its services globally through FY2022.
The investment in technology, business development, marketing and product selection through FY2021 has been key to the growth in product sales and revenue achieved through the year with the benefits of these initiatives expected to continue into FY2022 with the Company planning to launch more direct-to-consumer online stores, thus driving the Company towards profitability.
The strong investment in these initiatives is expected to deliver returns in FY2022 and is reflected in the reported operating loss for the year of $4.99m, which includes $1.87m non-cash items including impairment costs, now not carried into FY2022 and beyond reducing ongoing expenses.
The Company closed FY2021 with cash at bank of $3.81m and subsequent to year end, placement funds of $1.70m were received in the first week of July 2021 further strengthening the Company’s balance sheet.
RLG recognises and appreciates its shareholders for their support through the year and the Company looks forward to delivering a strong FY2022 result to investors.
ENDS
Issued by : RooLife Group Ltd Authorised by: The Board of RooLife Group Ltd
For further information, please visit the RooLife website at www.roolifegroup.com.au or contact:
Bryan Carr Peter Nesveda Managing Director Corporate Affairs & International Investor Relations Ph: +61 8 6444 1702 Ph: +61 412 357 375 Email: [email protected] [email protected]