H1 FY21 Trading update

• Maggie Beer Products e-commerce sales increase by 167% in H1 FY21 over H1 FY20
• Group achieves 20% or $4.6m net sales growth in H1 FY21 over H1 FY20
• Group’s trading EBITDA improves by $2m in H1 FY21 over H1 FY20
• All three businesses returning a positive trading EBITDA for H1 FY21
• Maggie Beer Products achieves 28.6% net sales growth in H1 FY21 over H1 FY20
• Paris Creek Farms achieves 11.4% net sales growth in H1 FY21 over H1 FY20
• Saint David Dairy achieves 5.4% net sales growth in H1 FY21 over H1 FY20
• The Group continues to be well funded, with its cash position increasing by $1.2m in H1 FY21 compared to H1 FY20 and has $9.3m in cash and undrawn debtor finance facilities
• Group achieved a positive operating cash position in H1 FY21, an improvement of $3.6m on H1 FY20

Total revenue of H1 FY20 was 23 million (see Appendix 4D 25/02/20). This means total revenue is 27.6 million for H1 FY21. Will probably know more in Feb when they put out the App 4D

In comparison H2 FY20 revenue was 45-23 = 22 million. Which means revenue of H1 FY21 also beat H2 FY20 so there is some growth between the periods.

So overall good update. But somehow got sold down today. Maybe market expected better.