My Food Bag beats its own forecast

Fri, 21 May 2021

My Food Bag has outperformed its forecast delivering underlying earnings of $29 million in its first result as a listed company.The earnings before interest, tax, depreciation and amortisation figure is $500,000 above what the meal-kit company forecast during its initial public offering (IPO) at $28.5m.Full year revenue was up 24% from financial year 2020 at $190.7 million, that’s $1.2m ahead of forecast.Chief executive Kevin Bowler landed himself in hot water during the IPO process by saying he expected the company to outperform the fore...

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