MFB - My Food Bag

[Basil]

Got out of bed and fed the dog early. TRA, TWR and MFB all reporting this morning. Beagle will be a busy dog.

[Basil]

First impressions.  Very solid result and very resilient performance for the first period of trading in FY27. They nearly listened to my loud barking at last years annual meeting and have paid a total dividend for the year of 1.9 cps fully imputed.  (I would have liked to see 2.0 cps for the year)

·Revenue of $170.2 million, up 5.0% on FY25
·EBITDA of $16.4 million, up from $16.1 million in FY25
·NPAT of $6.7 million, up 5.3% on FY25
·Net debt reduced by $5.1 million to $1.9 million and free cash flow of $8.5million
·FY26 H2 revenue growth of 6.2% year on year
·Gross Margin stable at 49.0% and above the 5-year average
·Active customers at 57.1k with improved lifetime value and retention
·Fully imputed final dividend of 1.15 cents per share declared, payable in June

Gosh, almost debt free with only $1.9m debt left, that's a lot quicker than I thought.  No mucking around with the dividend, ex divvy date is 3 June.
What are they going to do with that $8.5m free cash flow in FY27 and beyond ?  3 cps fully imputed dividends for FY27 giving a 15.7% gross yield going forward ?

Early trading in FY27 has remained encouraging, with demand trends continuing to track positively with revenue growth of 5.1% for the first 7 weeks of the financial year, reflecting continued sales growth from the execution of our plan and strength of our customer base.

My Food Bag announced strategic review

As previously announced, the Board has commenced a review to evaluate its ownership, capital structure and strategic options. My Food Bag has engaged Cameron Partners as its financial adviser, but the review remains in its preliminary stages and there is no certainty that any transaction involving My Food Bag will eventuate. My Food Bag will continue to keep shareholders and the market updated in accordance with its continuous disclosure obligations.

Early trading in FY27 looks very robust indeed.  Very impressive.

[lorraina]

Impressed with this;
Net debt reduced by $5.1 million to $1.9 million and free cash flow of $8.5million