Maggie Beer aims for sales of $85 million

Luxury food group Maggie Beer Holdings rapid growth continued in the latest quarter, with the company revealing it expected sales of $85 million for the full year.

In a business update the Barossa Valley company said the business was expected to make earnings before interest, tax, depreciation and amortisation of $11 million in the full year.

This follows success in securing shelf space in Woolworths and independent supermarkets for new ranges of finishing sauces and bone broths.

The new range is of four finishing sauces and two broths, which will help reduce the seasonality of the company’s

The company also reported:

• Group sales were growing at double digit rates, with 18 per cent growth by April over the previous corresponding period
• Maggie Beer branded products grew 29 per cent to April year on year
• And the recently acquired hampers business grew 96 per cent by April over the previous corresponding period.

In the company’s other brand businesses Paris Creek Farms year to date sales were five per cent up in the latest quarter on the previous corresponding period.

Paris Creek Greek Yoghurt is now sold in Woolworths and Coles stores.

CEO Chantale Millard said: “We are expecting our strong growth to continue into FY22 and beyond as the MBH Group cements its position as the premium food and beverage brand in the entertaining and e-commerce space.”

Picture: Maggie Beer

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