The smallest and highest profile share float of the year has emerged from its first three months with a $1.3 million loss and directors predicting it will be losing $50,000 a month for a while yet.
Burger Fuel spent nearly twice as much on expenses as it took in revenue for its first three months as a publicly listed company, according to information supplied to the NZAX yesterday. Company director Josef Roberts said that was due to the costs of running the initial public offering, including around $400,000 for the advertising campaign.
But with the shares that floated in July at $1 currently trading at 60c, the company co-founder Josef Roberts said it was on track to start bringing in a profit. He was just not sure when that would occur.
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