Meal-kit company My Food Bag reported a steady half-year profit while reducing its debt, with revenue rising due to attracting more customers.
Key numbers for the half year ended 30th September compared with a year ago showed a net profit of $2.9 million versus $3.0 million, revenue of $85.4 million up from $82.2 million, an underlying profit of $7.2 million compared to $7.8 million, and a gross margin of 48.5% down from 49.8%.
My Food Bag has also declared an interim dividend of 0.75 cents per share.
“We have successfully lowered net debt over the past 12 months from $9.7m to $5.5m at the end of September 2025,” My Food Bag chair Tony Carter said.
Carter emphasised that reducing debt remains a continuous priority for the company.
He said My Food Bag maintained a strong emphasis on product quality and customer satisfaction while carefully managing cost pressures to minimise their impact.
“While the gross margin reduced year-on-year, it remained relatively stable compared to the second half of FY25.”
Chief executive Mark Winter said the company has been broadening the range of its core meal kits through its My Food Bag and Bargain Box brands, with plans to extend into additional product categories.
“Beyond meal kits, we are leveraging the strength of the My Food Bag brand to expand into new categories and occasions, with our ready-made meal range and care package and gift solutions through the My Food Bag Shop attracting incremental active customers.”
“We are continuing to focus on product quality, customer experience, and operational efficiency, and we are well positioned to continue to grow and deliver to thousands of Kiwi households each week,” Winter added.