Markets

My Food Bag hits targets

Dan Brunskill
Fri, 20 May 2022

My Food Bag hits targets
Tony Carter and Kevin Bowler said the result speaks for itself. (Photo: Supplied)
Dan Brunskill
Fri, 20 May 2022
My Food Bag has reported earnings for the year ended March almost exactly in line with the forecasts made in its initial public offering (IPO).The meal-kit company posted a net profit of $20 million – up dramatically from last year, which was weighed down by IPO costs – and pulled in revenue of $194m.Revenue was higher than forecast due to inflation pushing up the headline number, but earnings before interest, tax, depreciation, and amortisation were as expected at $34.2m.“We believe that our results speak for themselves,&rdqu...

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