The gourmet food company, known for selling products like pate, bone broth and ice-cream, will consider further price rises despite consumers opting for budget brands.
Maggie Beer Holdings chief executive Kinda Grange on Monday said higher freight and labour costs, rising inflation and interest rates had eaten into the fine food company’s profits, which fell 68 per cent to $800,000 for the 2023 fiscal year.The new financial year has started much in the same vein for the company.
“We’re really focused on ensuring that we have a fantastic plan for Christmas and execute that really well.”The ASX-listed food business, known for products such as pheasant pate, quince paste, bone broth and ice-cream, had earnings decline 69.4 per cent to $3.2 million and net sales slide backwards by 1.4 per cent. The company has decided not to declare a final dividend.
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