New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>My Food Bag’s (MFB) trading update reports a material slow-down in delivery volumes in the second half of FY23</li><li>MFB identifies inflationary pressure on households and low consumer confidence as the main drivers of this earnings decline</li><li>Cost reductions, or a recovery in volumes over the key winter period (which falls in FY24) will be critical for reducing debt levels.</li></ul>

My Food Bag’s (MFB) trading update reports a material slow-down in delivery volumes in the second half of FY23MFB identifies inflationary pressure on households and low consumer confidence as the main drivers of this earnings declineCost reductions, or a recovery in volumes over the key winter period (which falls in FY24) will be critical for reducing debt levels.

My Food Bag Group Ltd

My Food Bag (MFB): FY23 Trading Update