My Food Bag to ditch ASX listing as profit falls 60%

My Food Bag to ditch ASX listing as profit falls 60%
My Food Bag's chair Tony Carter, left, and CEO Mark Winter are hopeful about the company's future. (Image: My Food Bag)
Ella Somers
My Food Bag saw its net profit for the 12 months ended March 31 nosedive 60.5% as the meal kit company announced it wants to delist from the Australian Securities Exchange (ASX) in an effort to save some cash.“Delisting from the ASX will save the business money and is consistent with the review of our cost base to identify cost-saving initiatives,” chair Tony Carter told shareholders on Friday.He said My Food Bag's "home" exchange remained the New Zealand Stock Exchange (NZX) while its ASX one was a “secondary, f...

More Markets

NZ stocks end firmly as outlook brightens
Markets Market Close

NZ stocks end firmly as outlook brightens

Improved, post-results season sentiment drove NZ stocks higher.

The Warehouse Albany and Silverdale could be first in line for store revamp
Retail

The Warehouse Albany and Silverdale could be first in line for store revamp

The Warehouse’s Albany and Silverdale stores could be first in line to undergo an interior revamp, according to chief executive Mark Stirton, who gave an update to shareholders at the company’s annual meeting on Friday.The meeting covered everything from the company’s 2025 financ...

Westpac cops $3.64m penalty for lender responsibility breaches
Finance

Westpac cops $3.64m penalty for lender responsibility breaches

Credit Contracts and Consumer Finance Act in focus again.

New Talisman in trading halt
Markets

New Talisman in trading halt

New Talisman Gold Mines has been placed in a trading halt because of its financial position.The mining company requested the halt, saying the board must meet “to consider the company’s current financial position and its strategic path forward”.“The board cannot reach a conclusion...