Maggie Beer Holdings Ltd. (AU:MBH) has released an update.
Maggie Beer Holdings Ltd has reported a significant loss for the fiscal year ended June 30, 2024, with a decrease in profits of 3786.6% to a loss of $28.2 million, despite a marginal revenue increase of 0.8%. The loss is attributed to lower sales in the Paris Creek Farms division, a mix shift to lower margin categories, and increased costs that have not been quickly passed on to consumers. The company’s balance sheet remains solid with no debt and a net cash position of $4.7 million, although net tangible assets per share decreased from 10.84 cents to 7.95 cents.
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