Maggie Beer (ASX:MBH) has provided its H1 FY23 trading update for its Maggie Beer Products and Hampers & Gifts Australia, with net sales increased by 4.3% from the same time the year prior.
Maggie Beer says E-commerce net sales increased by 4.2% in the quarter versus the previous corresponding period, and retail grocery net sales increased by 4.6%.
However it says net sales of $49.9M for H1 FY23 were 4.5% lower than H1 FY22.
Maggie Beer says trading EBITDA of $5.6M was achieved for H1 FY23 versus $9.9M the year before, impacted by the increase in freight costs and the strategic investment in marketing campaigns that grew sales in Q2 FY23.