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My Foodie Box deliver record returns

8 November 2022 11:53
ASX: MBX

My Foodie Box have marked a 31 per cent growth in active subscribers in October, resulting in last week’s net revenue record of over $160,000 for the Perth-based meal kit company.

It carries on a constant upward trend and equals an increase of nearly $200,000 more revenue per month since July.

A transition to sales strategy has not only seen revenue rise, but reduced marketing costs to the tune of around $200,000 per month, putting it on pace to hit break-even in the first half of 2023.

The strategy shift comes along with a new website and app set to launch next month, while the positive returns from its Thermomix box are expected to keep increasing.

To accommodate expansion, the company are moving shop and into a large, efficiency-enhancing facility, configured to its exact requirements within the Perth Airport precinct.

The company said it strongly believed it would continue to achieve new records in active subscriber and revenue results.

“Securing funding for our new facility means we can also introduce efficiencies and cost control measures which will bring down operating costs,” chief executive Mai Hughes said.

“Importantly, we are also launching a new website and app that we are confident will drive continued revenue growth opportunities.”

My Foodie Box have its new website and app set to launch in December.

MBX’s Australian Stock Exchange-listed share price has risen 5 per cent today, currently selling at 6.3c (11.17 am UTC+ 8 hours).

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