‘Buy Australian’ a rising force for Maggie Beer
Simon EvansSenior Reporter
Revenue ($m) 27.8 v 23.2
Pre-tax loss ($m) 0.37 v 14.3
Net loss ($m) 0.36 v 14.3
Interim dividend (¢) nil
The chief executive of Maggie Beer Holdings expects most of the extra sales generated during stay-at-home times in the pandemic will stick, helped by an increasing propensity for shoppers to want to “Buy Australian” to spur on a broader economic recovery.
Chantale Millard said on Wednesday the star power of the celebrity chef was also proving a big plus for the ASX-listed gourmet food company, which had in July dumped its previous name, Longtable Group.
“The Maggie Beer name is really synonymous with high quality food products. We’ve had really positive feedback,” she said.
The Maggie Beer Products brand generates more than half of the group’s sales. Total sales revenue was up 20 per cent to $27.8 million for the six months ended December 31 but at the bottomline level the company is still marginally in the red.
The company made a loss of $367,000 compared with a loss of $14.3 million a year ago after heavy write-downs, mainly connected with the Paris Creek milk and yoghurt brand.