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Highlights
- Australia is famous for clean and green food products
- The food, grocery, and beverage industries of Australia constitute more than one-third of the country’s total manufacturing sector.
- FOD, MBX and TSN are the stocks from the ASX food processing industry with the highest price return in a month.
Australia has a remarkable global hold in the cereal, dairy, meat, and beverage markets. Popular for their ‘clean and green’ products, the country’s food producers and processors have notable worldwide recognition.
The food, grocery, and beverage industries of Australia constitute more than one-third of the country’s manufacturing sector. In 2020, the industry’s turnover tallied nearly AU$191 billion, an 8% uptick over the previous year.
This article will discuss the top three companies, specialising in food processing listed on the ASX that have performed well in terms of price return to their investors in a month.
The Food Revolution Group Limited (ASX: FOD)
FOD is a food processing company based in Australia. The company’s business operations include the production of juices and beverages. Recently, it has developed a 100% plant-based smoothie using protein from a bean.
Due to the severe impact of the pandemic on domestic supply chains, the company witnessed a gloomy result in the half-year ended 31 December 2021, facing a loss after tax of AU$1,001,295.
FOD has a market capitalisation of AU$26.50 million. It has provided a price return of nearly 29% to its investors in the last month and a 23% return on a year-to-date basis.
Related read: Why Food Revolution Group (ASX:FOD) is the talk of the town
My Foodie Box Limited (ASX: MBX)
Image source: © Jabiru | Megapixl.com
My Foodie Box, a food technology and logistics business, debuted on the ASX in January 2021. Aspiring to become a larger e-commerce enterprise, the company prepares and delivers meal kits to consumers in Western Australia. Having a market capitalisation of AU$11.38 million, the company operates with a whole in-house team of professional chefs and a dietitian.
MBX made a robust debut on the ASX with an oversubscribed IPO, raising AU$6 million. In Feb 2022, the company’s average weekly revenue was AU$132K, an increment of 78%, compared to the previous corresponding period (pcp).
Last month, MBX entered a formal partnership with Thermomix® Australia Distributor. Under the collaboration, MBX will soon offer Thermomix® customers a Thermomix® Box, expected to be available from May 2022 in Perth.
The company has performed excellently with a price return of nearly 25% in the last month.
Do read: Roma Foods looking for Australian buyer
The Sustainable Nutrition Group (ASX: TSN)
TSN has a market capitalisation of AU$19.59 million. The company deals in the manufacturing and delivery of premium hemp and plant-based health and nutrition products.
The company recently reported optimistic results from the development phase of its exclusive hemp isolates and concentrates. The project was undertaken in collaboration with Australian Plant Proteins (APP). Last month, TSN implemented a new retail distribution agreement with Woolworths Group Limited for an additional range of baking products.
In the half-year ended 31 December 2021, the company reported a 104% surge in revenue compared to pcp. Stocks of TSN have provided a price return of nearly 16% in the past month.
Also read: From ERG to HVM – Four ASX food stocks with over 10% YTD returns
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Aditi Sarkar - Healthcare Analyst (Biotechnology)402 PostsAditi covers content focused on healthcare and food & beverages sectors. She has a post-graduate degree in Genetics and Plant Breeding with Biotechnology as her minor subject. She has two co-authored scientific research publications in peer-reviewed ...
