MFB - My Food Bag

[LoungeLizard]

Sales up 4.9% last year and same again YTD at the annual meeting. Lots of new iniatives to drive sales growth going forward.  See annual meeting prsentation and DYOR.

MFB now debt free. They have been paying down debt at approx $6m per annum and it's now debt free and a growing cash generative machine.

Forget about sales comparisons when we had Covid lockdowns and people were terrified to go to the supermarket. They have stabilized the business after Covid and are now growing revenue nicely despite severe economic headwinds.

Best to ignore people who thought SPK was a compelling buy at $4.50 or HLG was a sell at $8.

Metrics I posted yesterday speak for themselves.

Or indeed perhaps best to ignore those that bought into HGH just before the well flagged capital raise tanked the SP?

The metric of no growth in customer numbers, revenue, EPS and the panic selling attempt by management certainly do speak for themselves.

[Basil]

LOL is that all you've got. One break even result after previously calling HGH turning points correctly for a decade. That's pathetic.

Just go all in on your IFT and leave the value stock picking to those who know what they're doing.

[LoungeLizard]

LOL is that all you've got. One break even result after previously calling HGH turning points correctly for a decade.

That's pathetic.

Well if you're going to try throwing off-topic cheap shots Basil, then you've got to expect some back in return. I din't lose any money on either Spark or HLG, but really - who's counting? (apart from you).

[Basil]

Annual meeting presentation is here for those that want to start doing their own research.
https://api.nzx.com/public/announcement/478134/attachment/474765/478134-474765.pdf
The business used to carry significant debt and has been paying it off at ~ $6m per annum and is now debt free.

Its a growing food business on a PE of 10 and a gross yield of 12% with additional potential for special dividends and buy-back's. I understand its not for everyone and others will have different perspectives but I have invested the time to understand the business properly, understand the brand value, understand how difficult it is to build a trusted food brand, met with the directors and management and gathered a good understanding from them of what initiatives they have to build the business further, (not all of which I have shared on here). I am comfortable holding an ~ 8% portfolio allocation for income.

[LoungeLizard]

That's fine, Basil. We're getting there. We agree that the stock is not for everyone. So all I'm trying to do is say why it isn't for me - much like you do for IFT and a raft others that don't meet your individual investment criteria.
 
I don't usually bother getting involved in stock I don't own - but where people have lost money through company and media ramping ( as they did in the past with MFB) I feel obliged to provide a counterbalancing word of caution to the idea that it's now, miracualously, some sort of slam-dunk, money-making machine with no risk involved. It simply isn't.

The next set of accounts, post the attempt to tidy them up for a potential sale, will tell the story. Maybe it will continue to pay dividends at the levels suggested. I sincerely hope so for people that are now buying in at these levels. Time will tell.