New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>My Food Bag (MFB) reported a weak 1H24 result, primarily driven by lower delivery volumes and operating (de)leverage as cost inflation and cost-conscious consumer spending behaviour continued to be major headwinds.</li><li>While year-on-year comparisons are significantly lower, MFB has marginally improved NPAT and reduced net debt versus 2H23.</li><li>There is further scope for overheads to decrease from 2H24 as management has implemented a range of cost-out initiatives. </li></ul>

My Food Bag (MFB) reported a weak 1H24 result, primarily driven by lower delivery volumes and operating (de)leverage as cost inflation and cost-conscious consumer spending behaviour continued to be major headwinds.While year-on-year comparisons are significantly lower, MFB has marginally improved NPAT and reduced net debt versus 2H23.There is further scope for overheads to decrease from 2H24 as management has implemented a range of cost-out initiatives. 

My Food Bag - 1H24 Result — Dividends Not Included

My Food Bag Group Ltd

My Food Bag - 1H24 Result — Dividends Not Included