No dividend from My Food Bag as cost-of-living crushes earnings

No dividend from My Food Bag as cost-of-living crushes earnings
My Food Bag chair, Tony Carter, left, and CEO Mark Winter. (Image: My Food Bag)
Ella Somers
The cost of living and “deteriorating economic environment” have eaten away at My Food Bag’s half-year finances, leading to the meal-kit company reporting one of its worst-ever results.My Food Bag (MFB) announced on Thursday that its half-year net profit after tax (NPAT) was $2.5 million, a 57.6% fall from $5.9m net profit in the same period in 2022.Earnings before interest, taxes, depreciation and amortisation (Ebitda) came to $7.4m, falling from $11.5m the year before – a 35.6% decrease.Revenue was down 11.2%...

More Markets

Fonterra divestment ‘not about waving the white flag’
Primary Sector

Fonterra divestment ‘not about waving the white flag’

Fonterra seeks strong support for divestment, but Hurrell denies white flags on brands.

Softer market ignores Budget
Markets Market Close

Softer market ignores Budget

Post-Budget, all eyes are on the Reserve Bank's OCR announcement next Wednesday.

Jamie Gray 23 May 2025
Restaurant Brands ‘does not seem to care’: Shareholder
Retail

Restaurant Brands ‘does not seem to care’: Shareholder

At the fiery annual meeting, a shareholder called the Californian market a ‘sinkhole’.

Gregor Thompson 23 May 2025
Channel increases dividend, mulls ASX listing
Infrastructure

Channel increases dividend, mulls ASX listing

Dividend up from 11c to between 12c and 12.5c. 

Ian Llewellyn 23 May 2025