Source: Radio New Zealand
A My Food Bag box. RNZ
Meal-kit company My Food Bag has posted higher full-year profit and revenue as it focused on operational delivery and paying down debt.
Key numbers for the year ended March compared with a year ago:
- Net profit $6.7million vs $6.3m
- Revenue $170.2m vs $162.1m
- Underlying profit (EBITDA) $16.4m vs $16.1m
- Gross margin 49.0 percent vs 49.3 percent
- Final dividend 1.15 cents per share
My Food Bag reported a 5.3 percent increase in net profit after tax and a 5 percent lift in revenue, with growth and profitability accelerating in the second half.
Chief executive Mark Winter said the result marked a step forward on the previous year, as the company focused on operational excellence and improving customer experience and retention.
“Our focus has been on delivering a better overall experience and clear value for money, and that is translating into customers ordering more often and staying with us longer,” he said.
The company said it had strengthened its core offering by delivering greater flexibility, convenience and value, helping drive improved customer performance.
The business maintained margins at historical levels and generated $8.5m in free cash flow, allowing it to reduce net debt to $1.9m while continuing to pay dividends.
It said rising fuel and ingredient costs had increased distribution expenses, but these were being offset through cost controls and supply chain optimisation.
Looking ahead, the company did not provide financial guidance but said trading had started positively, with revenue up 5.1 percent in the first seven weeks of the new financial year.
The company said its previously announced strategic review of its ownership, capital structure and options was continuing, and it would update the market in line with its disclosure obligations.
A fully imputed final dividend of 1.15 cents per share was declared, bringing total dividends for the year to 1.90 cents per share.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
Original source: https://nz.mil-osi.com/2026/05/21/my-food-bag-boosts-revenue-pays-down-debt/