MFB - My Food Bag

[Fiordland Moose]

Do we know the basis for this claim?  Or is that simply around issues with timeliness of deliveries?  Timeliness in today's environment is not a major concern, but logistical issues within MFB would be a major red flag given I believe they had decent investment in systems etc recently...?

I think CL is just referencing what MFB claimed were supply side constraints in Q4 F22, where due to covid they didnt have confidence in meeting demand so they culled marketing and required a close management of resources. Thats plausible and understandable. But is it the whole truth? If you go back to my post from a week or two ago (and before the profit downgrade) it was clear to me that by stopping marketing it would poorly position the company for the beginning of this financial year. Yet the SELL side analysts didnt seem bothered about it when the announcement was made in May - didnt even feature into their reports. Given marketing and securing new customers is NPAT negative for a period of time (less than 6 months), a cynic could wonder if they also culled marketing so they could hit their FY22 PFI forecast.

It someone wanted to put managements feet on they fire, they could ask at tomorrows AGM "can you confirm that 100% of the reason for the drop in marketing in q4 was due to covid supply constraints, and no way whasoever related to holding back short term loss making but crucial marketing activivies so that FY22 PFI would be met"

Bet that would make mgmt sweat. And if its true, then great, they got customer numbers back up for now. We dont know the truth but cynical minds can ponder fair questions. And if mgmt hesitate or hedge their answer it makes you wonder what other costs have been held back. I already pointed out post balance date they implemented new LTI/STI and share scheme stuff (a wee note in thr AR told me so). Why wait till fy23 i wonder....

Sadly im on holiday so wont get a chance but 100% fair questions and hope they get asked.

If anyone attends they should take notes and post

[KW]

a cynic could wonder if they also culled marketing so they could hit their FY22 PFI forecast.

Charlie Munger once said "Show me the incentives, and I will show you the outcome"

[Shareguy]

FM and KW think your on the money.

[winner (n)]

They mentioned vertical integration at the ASM .....to capture some of the margin suppliers are making.

Sounds like a few (small) acquisitions on the way

That'll be good

[Minimoke]

Hitting an all time low of $0.70 today. That's guy in Australia will be smiling.

[winner (n)]

Goodness gracious me ...MFB share price closes in the 60's

Maybe 68 cents sounds better

[Basil]

That consistent downward slope to the share price graph continues, no surprises there.
On track to be under 50 cents by January 2023.
I'd say the main risk is it might happen sooner.

[Hectorplains]

Yet another NZX company to enjoy the golden Theresa Gattung touch... Like with Telecom and Truscreen before this, her involvement in a stock is a likely precursor of massive wealth reduction to come for shareholders.  Quite useful really...

[Basil]

Yet another NZX company to enjoy the golden Theresa Gattung touch... Like with Telecom and Truscreen before this, her involvement in a stock is a likely precursor of massive wealth reduction to come for shareholders.  Quite useful really...

Not to forget Tony Carters involvement, (truly dreadful performance of FBU and AIR over the years). Another reliable warning indicator to stay out.

[winner (n)]

Hope Chairman Carter steps up and buys some before close

Otherwise will be another all time record low.

Cheaper by the week somecsay

[Basil]

You're much better than me at doing this mate.  Can you please post a graph ever since they listed.
The reason I ask is I just looked at it again and its a thing of absolute wonder.  I don't think in 40 years of investing I have ever seen a more consistent downtrend at a more consistent pace.
Remarkable.  Anyone betting against that trend without any sign of a trend reversal is "incredibly brave"...there's other words I could use, brave is the politest of them.

[winner (n)]

MFB weekly chart below ,,,,with 30MA (straight line heading down)

Been listed for 81 weeks

Hasn't been bad times all that time - there's been 28 weeks when share price has gone up .... exciting times and hope maybe that the bottom had been reached

But them again there has been 53 weeks of bugger the share price has gone down again .... but the bottom is imminent

You cannot view this attachment.

[KW]

You're much better than me at doing this mate.  Can you please post a graph ever since they listed.

I'd post a chart but I dont see the function to insert them?

[winner (n)]

KW - when doing a post there's a "Attachments and other options" button under the text box, tap on that and follow your instincts - ADD FILES / UPLOAD and then there's an INSERT button.

Good luck

[KW]

KW - when doing a post there's a "Attachments and other options" button under the text box, tap on that and follow your instincts - ADD FILES / UPLOAD and then there's an INSERT button.

Good luck

I dont have that.  Why dont I have that?
I have "insert an image" but that only gives you the option to insert a http link.