Heat on My Food Bag to deliver results

Chair Tony Carter and chief executive Kevin Bowler.

Fri, 21 May 2021

My Food Bag’s first year earnings result failed to stem the stock’s share price slide despite delivering earnings ahead of forecast.The meal-kit company today reported underlying earnings were 1.8% up on initial public offer (IPO) forecasts at $29 million, on revenue of $190.7m.While the earnings were better than expected, the outperformance had already been signalled by management and shares took another step down, falling as low as $1.47.The annual report went out of its way to acknowledge the weak share price saying the board of...

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