My Food Bag hits targets

Tony Carter and Kevin Bowler said the result speaks for itself. (Photo: Supplied)

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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