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Record sales for Maggie Beer as consumers cook at home more

Food group Maggie Beer posted record sales during the first half year, powered by a huge increase in online sales during the pandemic and a solid performance across all brands. 

In a stock-exchange filing, the company said sales grew 20 per cent overall to $14.6 million and interim EBITDA surged from $100,000 a year earlier to $2.2 million. 

Within its brand portfolio, the Maggie Beer label recorded 28.6 per cent growth, Paris Creek Farms 11.4 per cent, and Saint David Dairy 5.5 per cent. E-commerce sales soared 167 per cent and now represent 8 per cent of group sales. 

The company has also announced a new soup range will hit shelves in Woolworths and independent retailers in April. 

Among product categories, cheese was the best performer in the December half, up by 76 per cent, followed by cooking stocks, up 44 per cent, reflecting the consumer trend towards cooking at home more due to Covid-related lockdowns and restrictions on restaurant dining. 

CEO Chantale Millard said the second half year has continued to show a similarly strong trajectory to the first half. However she cautioned there is still economic uncertainty ahead as JobKeeper winds down on March 21. 

“Despite this uncertainty we remain confident of continuing to deliver double-digit net sales growth.”

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