Amended 2019 Full Year Perliminary Announcements
4/6/2019, 4:12 pm FLLYR
Preliminary Announcement of AFC Group Holdings Limited
The financial statements of AFC Group Holdings Limited (“AFC Group”) are still under audit for the period ended 31 March 2019. The net assets were NZ$3.73 million, which is a 21% decrease from the 2018 financial year. Cash and cash equivalent products were NZ$240 thousand, and fixed asset was NZ$1.83 million. The annual sales revenue in the 2019 financial year was NZ$2.60 million dollars, the market capitalisation value was NZ$3.66 million, and net loss was NZ$0.98 million, which is NZ$0.51 million higher than the loss incurred in the 2018 financial year.
In the 2019 financial year, AFC Group Holdings Limited has further strengthened its management from process to people. At the same time, the company has successfully merged to NZX on 01/ February/ 2019. In October 2018, the Group participated in the first China International Import Expo (CIIE) and achieved excellent results in sales.
AFC Biotechnology Manufacture Co Ltd reached strategic cooperation agreements with several large distributors to wholesale DDMASK products within New Zealand. At the same time, the company launched a series of new products, and successfully entered the airport duty-free shop.
AFC Longview Limited has actively and repeatedly participated in the NZWINE and NZTE exhibitions. At the same time, the company has also cooperated with many famous New Zealand wineries to launch several red and white wines.
In summary, the Company has laid a solid foundation for its development in 2019-2020 by deepening the reform of its corporate structure and personnel structure, actively exploring channels and closely uniting management and employees.
On behalf of the Board of Directors
AFC Group Holdings Limited