Ecommerce now accounts for 44 per cent of Maggie Beer Holdings' total net sales, compared to two per cent a year ago, with its Maggie Beer Products (MBP) ecommerce business increasing 154 per cent over the last 12 months.
It has been a solid start to FY22 for the company, building on its FY21 results, with overall net sales for Q1 growing 84.1 per cent on the previous corresponding period (PCP).
Snapshot
- Net sales up 18.8% to $52.9m;
- NPAT $1.9m vs $14.8m loss in FY20;
- Gross margin up $3.6m to 46.8%;
- Trading EBITDA up 177% to $3.1m from FY20; and
- $13.5m in cash on balance sheet.
In line with its strong MBP ecommerce results, Hampers & Gifts Australia (HGA) increased 63 per cent pcp. MBH acquired HGA for $40 million in April.
HGA has launched new everyday and Christmas hampers incorporating MBP products, while also launching 43 everyday hampers and 13 new baby hampers.
CEO Chantale Millard said the ecommerce increases were a direct result of a new digital marketing strategy implemented across the two businesses.
Retail sales grew 4.1 per cent for the group, which Millard said was a solid result considering COVID-19 disruptions.
Paris Creek Farms will be partnering with Woolworths to launch three of its two litre milk SKUs in 400 stores across Victoria and New South Wales. It represents the biggest launch for the business outside of South Australia and is set to rollout in March. It will add around three million litres of extra milk volume through the facility.
Key focuses for FY22 will be expanding its core range in Australia and export markets with further penetration into all channels included D2C. NPD will be focused on the four core brands to drive growth with strategic marketing plans following the success of recent campaigns and it will continue refining its manufacturing and operational systems.
Operating cash flows improved by $1.18 million and Millard said it is on track to achieve $100 million in revenue and between $13.5-$15.5 million of trading EBITDA for FY22.
