MFB - My Food Bag

[silverblizzard888]

Stats today show annual prices for meat, fruit and vegetables are overall down, which bodes really well with MFB's business model. Add in the minor drop in interest rate, should all be a health contribution to the bottom line. Hopefully guidance on financial numbers is given at tomorrows meeting.

"Despite the annual increase in overall food prices, prices decreased for fruit and vegetables (down 8.5 percent), and meat, poultry, and fish (down 1.1 percent)."

https://www.stats.govt.nz/news/food-...cent-annually/

[winner69]

Sales hanging in there first few months F25

That’s good

http://nzx-prod-s7fsd7f98s.s3-websit...286/424842.pdf

[bulltrap]

Some quick notes from the shareholder meeting Q&A:

• Olympic partnership campaign has been very successful.
• Not considering discounts for shareholders. Shareholders just get sign-up and reactivation discounts like everyone else.
• No plans for a share buyback. Fully imputed dividends are tax efficient, and the experience in NZ of share buybacks has been 'mixed'.
• Not considering delisting from NZX, while acknowledging that traded volumes are low.
• Intangible valuations not believed to be a factor in the low share price, and are well explained in the audit docs. It's just an 'accounting concept'.

There were the inevitable questions in the room about post-IPO share price decline through gritted teeth. Chair Tony Carter responded that the share price is unlikely to return to IPO levels without a return to a growth phase in the economy, and that the company is delivering smaller profits than at the time of IPO, which justifies a lower share price. I'm muttering to myself that actually, the country was facing a pandemic recession, and the IPO valuation was predicated on continued growth which never emerged. How quickly we forget.

[sb9]

Thanks for those snippets bulltrap, very interesting and mixed bag.

[Habits]

Probably its been a good trading stock if able to pick the highs and lows. Im happy to hold long, hopefully less volatility from here and continue slow march upward

[silverblizzard888]

Good to see strong sales numbers amid a declining economy, with net sales just less than 2% down from the prior year and meat and vegetable prices also down it bodes quite well. Not to mention interest cost going down along with them paying down debt.

My estimate for H1 FY25
Revenue range: $81m-$82m
NPAT range: $3.5m-$4.5m

Its an upgrade on my initial estimates, I had expected net sales to be in decline of up to 10%. I think they can get NPAT of $8m-$10m this financial year, which would make their shares pretty cheap given their $43m value currently.

[carrom74]

Good to see strong sales numbers amid a declining economy, with net sales just less than 2% down from the prior year and meat and vegetable prices also down it bodes quite well. Not to mention interest cost going down along with them paying down debt.

My estimate for H1 FY25
Revenue range: $81m-$82m
NPAT range: $3.5m-$4.5m

Its an upgrade on my initial estimates, I had expected net sales to be in decline of up to 10%. I think they can get NPAT of $8m-$10m this financial year, which would make their shares pretty cheap given their $43m value currently.

Thanks for your input.

Last time your predicted numbers were bang on! Hopefully this time too.

I still think this one will be gobbled up -if it can report a NPAT of $10M