My Food Bag 'stabilises' and reinstates dividends

My Food Bag chair Tony Carter (left) and CEO Mark Winter. (Image: Supplied)

Thu, 23 May 2024

My Food Bag shares lifted 17% on the open on news it had reinstated its full-year dividend after improvements in the second half of the year to March 31. The company's full-year revenue fell 7.7% on the year to $162.2 million and its net profit after tax tumbled 24% to $6m. However, the second-half net profit grew 75% to $3.5m compared with $2m in the last six months of the 2023 financial year.Net sales and active customers for the first eight weeks of the 2025 financial year are “broadly in line with the prior year&rdq...

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