My Food Bag profitability up, customers down marginally

The number of customers has stabilised, says chair Tony Carter. (Image: Supplied)

Thu, 21 Nov 2024

My Food Bag profits are up despite a marginal loss in its customer base and total number of deliveries. The meal delivery firm reported a net profit after tax (npat) of $3 million for the six months to Sept 30, a 17.8% improvement on the first half of last year. Profits rose despite revenue falling 1.9% to $82.2m. Earnings before interest, taxes, depreciation and amortisation (ebitda) were $7.8m, up 5.3% from $7.4m. The gross margin also improved, rising to 49.8% from 47.9%. Active customer base and total deliveries fell to...

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