Premium food company Maggie Beer Holdings (ASX: MBH) has reported a sharp improvement in profitability for the first half of FY26, as cost reductions and operational reforms begin to deliver results.
For the six months to 31 December 2025, net profit after tax from continuing operations increased 68 per cent to $398,000, supported by disciplined cost management and stronger sales in the core Maggie Beer Products division.
Chair, Mark Lindh, said the result reflected the impact of significant operational and structural reforms implemented over the past year.
“The last half continued to deliver on the significant operational and structural reforms undertaken across the business over the last 12 months,” Lindh said.
The company removed more than $2 million in costs during the half, contributing to a total $3.4 million improvement in operational and other savings over the past 12 months.
The Maggie Beer Products (MBP) division, which houses the group’s branded premium food range, recorded a 4.6 per cent increase in sales compared with the prior corresponding period, driven by renewed focus on key national retail channels.
Growth was led by several product categories, including cheeses, which rose 12.7 per cent, and stocks, up 10.7 per cent. The company’s Verjuice product delivered particularly strong growth, with sales increasing 52.5 per cent during the half, largely driven by export demand.
Lindh said the improved performance reflected stronger in-store sales and expanding export opportunities for the Maggie Beer brand.
“Pleasingly some of the most iconic Maggie Beer products have continued to deliver significant improvement in its in-store sales and through a burgeoning export channel,” he said.
Maggie Beer Holdings said it was also implementing initiatives to improve margins in the second half, including a new logistics contract and production improvements designed to increase efficiency.
The group’s Hampers & Gifts Australia (HGA) division remained profitable despite a challenging Christmas trading environment and increased discounting across the hampers sector. Revenue for the half was $34 million, down from $35.8 million a year earlier, while statutory EBITDA from operations fell to $3.1 million from $4.9 million.
The company confirmed it is reviewing strategic options for the HGA business after receiving several unsolicited and non-binding offers. The review will consider potential alliances, mergers or a change in ownership as part of the group’s objective to improve shareholder returns.
Maggie Beer Holdings ended the half with available liquidity of $15.5 million, comprising $11.5 million in cash, no debt, and $4 million in unused facilities.
While the company has not issued formal earnings guidance, the board said ongoing cost reductions, improved cash reserves and growth opportunities within the Maggie Beer Products division position the business well heading into the second half of FY26.
