Highlights:

  • FY26 revenue forecast lifted to 4.9% growth, with stronger momentum in H2.
  • Net profit expected to rise to $6.4–$6.8m, above FY25 levels.
  • Customer retention and new product features driving improved performance.

My Food Bag Group Limited (NZX:MFB) has released a market update outlining continued growth momentum for the financial year ending 31 March 2026 (FY26). The company expects full-year revenue to increase by 4.9% compared with the prior year, supported by a stronger second-half performance. Revenue in H2 is forecast to rise 6.0% on a half-on-half basis, reflecting improving sales trends. Despite ongoing ingredient cost inflation, gross margins have strengthened compared to the previous year. The business also reported growth in retained active customers, driven by enhancements to its core meal kit offering and expanded product range. As a result, full-year net profit after tax is now projected between $6.4 million and $6.8 million, exceeding the $6.3 million recorded in FY25. Management says it remains focused on customer experience, profitability, and strategic investment while monitoring external risks.

Revenue Growth and Customer Momentum

The company attributes its improved performance to stronger customer engagement and continued investment in its core meal kit brands. Retained active customer levels have increased year on year, reflecting improvements in service quality and product customization. In addition to subscription-based offerings, My Food Bag continues to grow its standalone retail platform, the My Food Bag Shop, which provides food gifts and care packages without requiring a subscription. New personalization features launched in January, including “Double Protein” and “Goes well with,” have shown encouraging early uptake. These initiatives are contributing to higher sales momentum, particularly in the second half of FY26.

Profit Outlook and Strategic Focus

Based on current trading trends, net profit after tax for FY26 is expected to fall within the range of $6.4 million to $6.8 million, representing an improvement on the previous year’s $6.3 million result. Management highlighted continued discipline in managing costs while investing in growth initiatives. Although ingredient cost inflation remains a factor, margin improvements in the second half have supported profitability. The company also noted that it is monitoring potential impacts from recent geopolitical developments but has not identified any material effects at this stage. Further updates will be provided alongside the full-year results if required.

FAQs:

  1. What is My Food Bag’s revenue forecast for FY26?

Revenue is expected to grow by 4.9% compared with the previous year, with stronger momentum in the second half.

  1. What is the expected profit for FY26?

Net profit after tax is forecast between $6.4 million and $6.8 million, above FY25 results.

  1. What is driving the company’s improved performance?

Stronger customer retention, improved gross margins, and new product features such as “Double Protein” and personalized meal options are supporting growth.