Pure Foods Tasmania : Presentation Quarter 3 2022

Approved by the Board All numbers are unaudited

Pure Foods Tasmania Ltd (ASX:PFT) ('PFT' or 'the Company') provides its Quarterly Activities Report and Appendix 4C for the quarter ended 31 March 2022. Unless otherwise stated, all financial results are unaudited.

FINANCIAL HIGHLIGHTS

Q3 FY22 sales revenue of $2.7 million, up 23% vs Q3 FY21YTD FY22 sales revenue up 40% from $5.82m in FY21 to $8.2mThe Cashew Creamery sales up 1051% Q3 FY 22 vs Q3 FY21Plant-based foods segment grew at 368% Q3 FY22 v Q3 FY21

Net cash of $3.7 million as at 31 March 2021 provides capital for continued investment to expand product ranging, lift manufacturing capacity, and explore complementary value accretive acquisitions.

OPERATIONAL HIGHLIGHTS

Successful ranging of The Cashew Creamery 4-Pack range in 5 flavours in Woolworths

Metro stores saw an increase in the sales of the 4-Pack range by 960%.

Distribution of Potato & Gravy continues to expand though our active existing customers, with further combo deals now activated (see right image).

MICHAEL COOPER, MANAGING DIRECTOR

"Over the quarter, we have continued to deliver exceptional results and strong performance across our business segments. This demonstrates the ongoing successful execution of our strategy, and more importantly, the strong customer demand for our quality range of products.

"Our business segments are performing in-line or ahead of expectations - the Woodbridge product range continues to gain significant market share both domestically and internationally, there is strong international demand for Lauds Plant-Based Foods products, and the expansion of The Cashew Creamery's distribution network is driving volume and sales growth."

FINANCIAL REVIEW

PFT delivered $2.7 million in sales for Q3 FY22, a 23% increase on the previous corresponding period.

The significant increase in sales is a result of our increased product offering and expanded distribution. Notably, the plant-based foods segment, encompassing Lauds and The Cashew Creamery, grew at 368% Q3 FY22 v Q3 FY21.

PFT spent a total of $3.84 million on business activities during the March quarter, a 0.7% increase on the prior quarter. Expenditure for the quarter comprised of approximately $2.14 million for product manufacturing and operating costs, $1.42 million for staff costs, $0.20 million for administration and corporate costs, and $0.08 million for advertising and marketing.

On capital expenditure for the quarter, PFT spent $0.14 million to bring YTD capital expenditure to $1.76 million.

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