MFB - My Food Bag

[winner (n)]

I think your estimate of 2 $ per delivery is ridiculous, as per lol

It was $2 on top of what they currently pay

We will no doubt hear from them soon eh ...don't be surprised if narrative has changed

They might even have to sack the AI agent and get a new one to do the story telling

[Basil]

I think some people are missing some key points. An average courier delivery will involve many dozens of boxes within the same suburb which means the unit price per box is very small and logically has to be more efficient than those dozens of customers  each individually driving to the supermarket themselves.

The company may have an existing contract which runs for quite some time. Even if we are stuck with high fuel prices for quite some time people driving to the supermarket themselves are going to face those same high fuel prices and all customers will have to become accustomed to higher costs for freight and delivery or picking up the goods themselves.

For example we live within five kilometers of the supermarket and if my wife goes there with her diesel vehicle today it will cost her more than $2 extra for fuel compared to what she was paying seven or eight weeks ago.

The company has a good track record of managing other input costs when they have risen so an increased freight delivery cost is just another input cost to be managed in the same way.

The shares have come back a long way that in my opinion fully compensates on a risk reward basis for people applying fresh capital at these levels.

Zooming out and looking at the big picture, the company could be and should be debt-free by the end of FY27 and in a position to pay nearly three cents per share in dividends in FY28. Fully imputed that gives a gross yield of approx 18%.

Never waste a good crisis...that's how I see it.
Disc: I have been buying at 21.5 cps and am still bidding for more at that level.

[Dolcile]

Does anyone know what TSR is required for these performance share rights to vest?  Plus the new ones of course.

LTI – FY25 awards

The CEO and members of the Senior Leadership team are eligible to participate in the Long Term Incentive (LTI) scheme. Under the scheme, participants are awarded performance share rights based on a percentage of their base salary. Each performance share right converts to one ordinary share, at no cost to the employee. The LTI is an equity-settled share-based payment scheme.

The performance share rights vest after 3 years subject to achievement of continued employment with the Group and the absolute TSR compared to hurdles set by reference to My Food Bag's Cost of Equity plus various premiums. Accelerated vesting (up to 50%) after 2 years will occur if performance conditions are met.

The board approved 6,321,585 LTI performance share awards during the period to 31 March 2025 (31 March 2024: 6,922,230).

[winner (n)]

We know FY26 will be ok ...sales up and maybe $6.9n profit...and don't forget H2 sales were up more than H1

Results late May ...key will be what story the new AI Agent comes up with how the start of F27 has gone and prospects for full year. Get you bingo card out to mark off the buzzwords.

[winner (n)]

Possibly good sign for My Food Bag .....Foodstuffs input costs not rising as much as previous. My Food Bag with their superior relationships with key suppliers could be seeing input cost decreases

From Infometrics -

The pace of supplier cost increases to Foodstuffs supermarkets in March was slightly lower than last month, with the Infometrics-Foodstuffs New Zealand Grocery Supplier Cost Index (GSCI) showing an average 2.1% increase in what suppliers charged in March 2026, compared with a year earlier.

"The increase recorded for March was a slight slowdown from the 2.3%pa result in February," said Infometrics Chief Executive and Principal Economist Brad Olsen. "As anticipated, cost changes in March do not reflect higher input costs developing across the supply chain due to the Middle East conflict. Early indications are that suppliers have been absorbing some of the increases, and it is still too early to fully gauge the impact that we will see on grocery supplier costs."