7:59 cut – RGD, BKS

Real Good Food – AGM Statement

A mixed statement from Real Good Food, confirming earlier trends.

While the best news would have been that a large increase in capacity on the snack bar side had been entirely filled, news of continued growth and new contracts being won is the next best thing. Whether the concept of a healthy snack bar proves to be an oxymoron or otherwise a short-term fad does however remain to be seen.

It is disappointing to see the Cake Decoration side struggling, especially as this is the much larger division (and perhaps especially so on an ongoing business basis). It is possible that poor results in the US after the good start announced in the full-year results are due to inventory issues, but only time may tell.

Given the relative weightings of the two businesses I think that today’s news is, on balance, negative. I continue to watch from the sidelines with interest.

Beeks Financial Cloud – Launch of Service

Followers of Beeks will have noticed that “Backup of a Service” has been about to launch for some time now and it is clear that the project has significantly overrun in terms of time and cost.

While revenues from the new service have been trailed as being small and incremental (and thus the use of RNS Reach for the announcement), this (now-closed) gap in service provision may have been a stumbing block for some potential customers in the still-growing small-medium institutional market.

However what is much more significant is that Beeks have hopefully learned from a difficult software project and demonstrated the ability to deliver in the end. The software required to support self-service of the increasingly important networking and connectivity side is likely to be a order of magnitude more complex.

I hope to complete my full-sized article on Beeks this week.