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NZ
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IND
Highlights
- NZ is a leading exporter of world-class food and beverage products.
- Burger Fuel Group published strong interim results, looks optimistic for the year ahead.
- My Food Bag Group to a dividend of 3.0 cps during mid-December.
New Zealand is known for supplying fresh and quality food products across the globe. In fact, its food and beverage exports account for 46% of the goods and services exported by the country.
Further, its food service market is forecasted to grow at a CAGR of 3.73% during 2020-25.
Having said that, let us walk through the three most popular NZX food stocks.
Source: © 2021 Kalkine Media® data source- EODHD/Others
Burger Fuel Group Limited (NZX:BFG)
Burger Fuel Group Limited is known for gourmet burger restaurants. A few days back, it published its half-yearly results for the period ended 30 September 2021.
Must Read: Would these 5 NZX penny stocks take the market by storm in 2022?
The Group’s NPAT stood at NZ$404,525, up 12.7% on pcp. Also, its group operating profit grew by 15.8% to NZ$9.4 million, majorly on account of increased sales across the system.
Further, towards the end of the reporting period, BFG had zero debt and maintained a strong cash position with cash reserves of NZ$6.8 million.
It is optimistic of delivering a solid performance for the remaining part of the year with a continuous focus on growth opportunities and the development of current brands.
On 13 December, at the time of writing, Burger Fuel Group was trading flat at NZ$0.350.
Cooks Global Foods Limited (NZX:CGF)
Cooks Global Foods Limited is a well-known food and beverage retail and supply group. It has recently announced the appointment of a new independent director on its Board, Michael Ambrose.
Do Read: Cooks Global (NZX:CGF): Does half-year results indicate signs of recovery?
It is noted that Ambrose is the founding director of Arvida Group Limited (NZX:ARV), NZ’s famous operator of retirement villages and aged care facilities.
On 13 December, at the time of writing, Cooks Global Foods was trading flat at NZ$0.031.
My Food Bag Group Limited (NZX:MFB)
My Food Bag Group Limited is a leading online meal kit provider operating across Kiwiland. The Group will pay an interim dividend of 3.0 cps on 16 December, underpinned by record earnings in H1 FY22.
Related Read: Which 2 NZX food stocks can be considered amid inflation?
Its NPAT stood at NZ$9.4 million, while EBITDA was reported at NZ$16.0 million for the said period.
Further, MFB has fixed the foreign exchange rate at AU$0.9625 for the payment of the said dividend to Australian investors.
On 13 December, at the time of writing, My Food Bag Group dipped by 3.51% at NZ$1.100.
Bottom Line
Despite being impacted by restrictions and lockdowns due to the pandemic; NZ’s food industry has demonstrated resilience and is hopeful for improved future performance.