Lockdown lift offset by rising costs, says My Food Bag

My Food Bag's CEO Kevin Bowler. Shares in the meal-kit company rose more than 10% during the recent lockdown but have since fallen to a new low of $1.20. (Image: Supplied)

Dan Brunskill

Fri, 15 Oct 2021

Meal-kit provider My Food Bag says its half-year earnings were as expected, with any increase in demand from the lockdown absorbed by higher costs.The company earned a net sales value of $98.4 million in the six months ended Sept 30, from 808,000 deliveries. Its management said both numbers were in line with expectations.By the end of Sept, total active customers were up 3.3% and high value customers – who have purchased at least 20 deliveries – increased at a similar rate.The board said impact of the latest lockdown, which beg...

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