Highlights

  • My Food Bag’s H1 revenue grows 3.8%, reaching NZD 85.4 million, showing steady business momentum.
  • Active customers rise to 61,300, reflecting continued demand for flexible meal solutions.
  • Interim fully imputed dividend of 0.75 cent per share declared, reinforcing shareholder returns.

My Food Bag Group Limited (NZX:MFB) has reported revenue of NZD 85.4 million for the six months to 30 September 2025 (FY26 H1), representing a 3.8% increase compared to the same period last year. Gross margin came in at 48.5%, slightly below FY25 H1’s 49.8%, while EBITDA stood at NZD 7.2 million, compared with NZD 7.8 million in FY25 H1. Net profit after tax (NPAT) was NZD 2.9 million, a minor decrease from NZD 3.0 million in the prior year.

Chairman Tony Carter noted that the margin reduction primarily reflects the timing of price adjustments relative to broader food price inflation, which rose 4.1% over the year. Despite this, the company maintained product quality and customer satisfaction while managing cost pressures effectively.

Customer Growth and Operational Focus

Active customers increased to 61,300 at the end of FY26 H1, up from 60,100 a year earlier. The company continues to expand its reach, with YTD revenue growth of 4.6% indicating sustained demand. Free cash flow for the period was NZD 3.1 million, and net debt was reduced to NZD 5.5 million from NZD 9.7 million over the past 12 months.

CEO Mark Winter highlighted that the company’s growth was supported by ongoing marketing campaigns, menu innovation, and operational efficiency. “Meal kits remain at the core of our business, and we continue to focus on delivering an excellent customer experience,” Winter said.

Brand Strength and New Initiatives

My Food Bag’s brand awareness remains strong, reinforced by its No. 1 rating for meal kit delivery in New Zealand by Canstar Blue in 2025. Brand ambassador Nadia Lim continues to support its health-focused mission. Key initiatives include the launch of the Diabetes Plan in partnership with Diabetes New Zealand and the expansion of the My Food Bag Shop, offering one-off meals, gifts, and care packages.

Winter added that the company is leveraging brand strength to grow beyond meal kits into ready-made meals and gift solutions, attracting new customers and supporting incremental growth.

Outlook

While FY26 H2 may face challenging market conditions, My Food Bag expects full-year profitability to be broadly in line with FY25. The company remains focused on product quality, operational efficiency, and customer experience to drive continued growth in New Zealand’s online food market.

Share Price Snapshot

MFB was trading at NZD 0.26 per share as of 20 November 2025.