A decision to enter the e-commerce field with the purchase of Hampers & Gifts Australia (HGA) is paying off for luxury food producer Maggie Beer Holdings with the company closing in on sales of $100 million a year.
The Barossa Valley company today revealed bumper results with sales up 19 per cent in the year to June 30 to $52.9 million and expectations of continuing rapid growth this year.
Operating profit was up 177 per cent to $3.1 million and the company moved from a net loss to a net profit of $1.9 million.
During the year the company acquired and integrated the HGA business, adding Maggie Beer products to its offerings.
HGA’s sales were up 36 per cent in the year and Maggie Beer’s e-commerce sales were up 90 per cent, complementing its retail sales channels.
CEO Chantale Millard said: “FY21 saw all of the MBH’s businesses perform well, with strong growth across the group.
“With successful integration of Hampers & Gifts Australia complete, we now have a large premium e-commerce business that can be quickly scaled at the same time as we grow our retail grocery business.”
The company’s e-commerce businesses re-located to Sydney during the year to improve customer service and it implemented a new ERP system in July.
All three of the group’s brands boosted sales in the year with Maggie Beer product sales up 23 per cent driven by a 50 per cent rise in the cheese category.
Paris Creek Farms continued its turnaround though it recorded a loss of $300,000 and St David Dairy increased sales by 10 per cent.
Millard said: “We are looking forward to FY22, with exciting growth prospects for Maggie Beer Holdings combined e-commerce and retail grocery businesses, as we push towards $100 million in revenue over the next 12 months.”
Picture: Maggie Beer/Father’s Day Hamper
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