Investors are betting that more affluent shoppers will back off on buying gourmet food, ice-cream and pate as cost-of-living pressures rise.
says sales in the December quarter were “strong” as people bought up for Christmas, and that its first-half profit margins were slightly ahead of the previous year.
The company in late December said Kinda Grange, a former joint managing director at Goodman Fielder, would succeed CEOFirst-half net sales fell 4.5 per cent to $49.9 million from the year-earlier period, when COVID-19 restrictions and lockdowns in Sydney and Melbourne boosted online orders. Interim trading profits on an earnings before interest, tax, depreciation and amortisation basis fell to $5.6 million from $9.9 million in the year-earlier period.
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