Maggie Beer Holdings (MBH) recorded a loss of $24.3 million in FY25, a marginal improvement on the $28.2 million in FY24. MBH chair, Mark Lindh said despite the loss, measures taken over the last six months have put the company in a good position for a strong 1H26.
MBH reported an impairment of $10.1 million on its sale of Paris Creek Farms, which removes $2 million trading losses and cashflow drag for the group in FY26.
Lindh said the sale of Paris Creek Farms would see money previously used to support the non-performing asset flow back into the group’s bottom line in the next 12 months.
“The group expects the sale to deliver greater medium to longer term benefits in improved cashflow, decreased costs and sharper strategic focus on our two core business units,” Lindh said.
Group sales were $76.3 million, up $2.7 million on prior corresponding period (pcp) with earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss of $1.4 million.
The company also announced a goodwill impairment of Hampers & Gifts (HGA) and Maggie Beer Products (MPB) of $4.7 million and $3.6 million respectively.
At the interim FY25 financial report, Lindh said the simplification of its operations including organisational structure, group margin improvements, labour alignment, along with overhead and inventory management were the focus for the company while maintaining revenue growth in the eCommerce Hampers and Maggie Beer products businesses.
Sales in Hamper & Gifts division up five per cent with Maggie Beer Products up two per cent delivering the group an additional $2.8 million in revenue on pcp.
Lindh said the sale of Paris Creek Farms would see money previously used to support the non-performing asset flow back into the group’s bottom line in the next 12 months.
“The group expects the sale to deliver greater medium to longer term benefits in improved cashflow, decreased costs and sharper strategic focus on our two core business units,” he said.
With restructuring completed in 2H25, significant ongoing cost reductions across the business, investment in technology platforms and sales growth across the two core business units, the MBH board said it believes MBH is well positioned for a positive first half in FY26.
“Our focus in FY26 is now very much on driving profitable growth, supported by investments made in the last year in our ecommerce platforms and underpinned by an ongoing cost-out programme that delivered $1.8 million in annualised savings in the second half of FY25 with an additional $1.7 to $2.2 million budgeted for this financial year,” Lindh said.
