Maggie Beer Holdings (ASX:MBH) Reports FY24 Financial Results
FY24 Financial Performance
Maggie Beer Holdings (ASX:MBH) reported a trading EBITDA of $0.3 million for FY24, marking a $2.9 million decline compared to FY23. This reduction was attributed to a $0.6 million decrease in gross margin and a $2.3 million increase in the cost of doing business. Excluding one-off items, the trading EBITDA stood at $2.3 million with a margin of 3.1%.
The company’s net sales were recorded at $89.4 million, reflecting a modest increase of 0.8% year-on-year. Key brands performed variably, with Maggie Beer Products (MBP) showing growth of 6.3%, while the Heritage Garden Artisanal (HGA) brand grew by 0.7%. The premium gifting brand saw a decline of 9.5%.
Strategic Priorities for FY25
Maggie Beer Holdings outlined its strategic priorities for FY25 aimed at becoming Australia’s leading purveyor of premium food and gifting products. The company plans to focus on creating extraordinary celebrations for both corporate clients and households.
The strategic framework includes scaling eCommerce, innovating product development, and simplifying operations company-wide. Maggie Beer Holdings aims to bring everyday premium food and gifting experiences to Australians while developing a sustainable and profitable business model.
Website Launch
The company announced the launch of its new website, maggiebeer.com.au, which aims to enhance customer engagement and streamline online shopping experiences.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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