My Food Bag will outperform IPO forecasts, says chief executive

Mon, 15 Feb 2021

My Food Bag chief executive Kevin Bowler says the meal-kit company is likely to outperform the growth targets outlined in its initial public offering documents, justifying its high valuation.The offer price of $1.85 per share values the company at $448.5 million, or 22.4 times earnings, and puts it in a liminal position between a growth stock and yield stock.One broker observed it was relatively expensive if it has already achieved most of its growth.In the 2022 financial year, My Food Bag is expecting to pay $16 million of dividends, a yield o...

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