- Food prices fell by 0.6% in November 2021 compared to October 2021, as per Stats NZ data.
- Comvita has launched a $1.3-million clinical trial programme to understand effects of manuka honey on digestive health.
- Cooks Global hired Michael Ambrose as its Independent Director.
The latest statistics from Stats NZ released on Tuesday revealed that food prices witnessed a fall of 0.6% in November 2021 compared to October 2021. The decline in food prices was driven by lower prices of tomatoes. Tomato prices saw a decline of 49% in November while their prices were higher by 54% last year.
Moreover, monthly fruit and vegetable prices also declined by 6.7% in November.
However, annual food prices rose 4% in November due to higher prices for grocery food and restaurant meals and ready-to-eat food.
Amid this backdrop, let’s see how these 5 NZX food stocks are doing at the year end.
Image source: © 2021 Kalkine Media®, Data source- Refinitiv
PGG Wrightson Limited (NZX:PGW)
PGG Wrightson announced this month that it was increasing its Operating EBITDA guidance to nearly $58 million for FY22 after excellent spring trading in H1 FY22.
The Group’s Chairman Rodger Finlay was pleased with the business performance and appreciated the response from people showing flexibility to altering COVID-19 operating protocols.
On 15 December, at the time of writing, PGW was trading at $4.5, up 0.67%.
Comvita Limited (NZX:CVT)
Comvita announced on Monday that it had invested $1.3 million in a clinical trial programme, which is also supported by the High-Value Nutrition (HVN) National Science Challenge to understand the effects of Manuka honey on digestive health.
The programme will be delivered in partnership with the University of Otago and research partners will be given $875K in funding from HVN.
On 15 December, at the time of writing, CVT was trading at $3.37, up 0.3%.
Burger Fuel Group Limited (NZX:BFG)
Burger Fuel registered a 12.7% rise in NPAT to $358,901 and a 15.8% increase in Group operating revenue in its interim results for the 6 months ended 30 September 2021.
Moreover, BFG’s total system sales witnessed a rise of 11.63% in the period on pcp, with total store numbers reaching 77 globally (as of 30 September 2021).
On 15 December, at the time of writing, BFG was trading at $0.36, up 2.86%.
My Food Bag Group Limited (NZX:MFB)
My Food Bag informed on 7 December that the foreign exchange rate to be used for the Company’s interim dividend that will be paid to Australian investors has been fixed at 0.9625.
The Group plans to pay 3cps on 16 December.
On 15 December, at the time of writing, MFB was trading flat at $1.13.
Cooks Global Foods Limited (NZX:CGF)
Cooks Global notified on 7 December that Michael Ambrose had been appointed as an Independent Director of its Board.
He served as a creator and Founding Director of Arvida Group Ltd while holding roles at many other organisations.
On 15 December, at the time of writing, CGF was trading at $0.032, up 3.23%.
The food industry of New Zealand has majorly stayed resilient and confident of improved future performance.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)