Latest Food Beverage News

Noumi Limited reported a nearly flat Q4 FY25 revenue with mixed segment performances and flagged a net loss for the year amid legacy legal expenses. The company highlights growth in its Milklab brand and export sales while managing significant convertible note obligations.

After divesting its meal kit business, My Foodie Box Limited is actively pursuing acquisition opportunities and a transaction to restore its ASX listing, while maintaining a tight cash position.

Noumi Limited has received Victorian Supreme Court approval for its $43 million class action settlement, closing a significant chapter tied to past financial restatements. The company’s insurer will cover its $11.56 million contribution, while legal costs will impact FY25 results.

Clover Corporation has upgraded its FY25 earnings forecast, expecting net profit after tax to exceed market consensus by around 20%, driven by strong sales and operational improvements.

Pure Foods Tasmania has raised $100,000 through a share placement and appointed directors to new operational roles aimed at driving sales growth and improving cost efficiency.

TasFoods reported a $10.7 million net loss for FY2024, challenged by an oversupplied poultry market and a significant asset impairment. The company is pivoting towards growth in pet treats and dairy exports to stabilize its future.

Farm Pride Foods has locked in a $27.57 million financing deal with NAB, refinancing existing debt and backing key capital projects to strengthen its growth trajectory.

Wide Open Agriculture secures $2.6 million via placement and plans a $500,000 Share Purchase Plan to fast-track its expansion into China and boost global sales of its lupin protein products.

Forbidden Foods Limited has reported a remarkable 218% increase in April invoiced sales, driven by robust ecommerce growth and the recent integration of Oat Milk Goodness. The company is on track to surpass $4 million in annual sales, signaling strong momentum in the health and wellness FMCG sector.

Wide Open Agriculture Limited has clarified that its recently signed offtake and distribution agreement with Univar Solutions China carries no immediate financial impact, outlining a phased market entry and sales timeline.

Noumi Limited reported a 2.8% revenue increase to $141.4 million in Q3 FY25, buoyed by gains in its Dairy and Nutritionals segment, while managing legacy legal costs and maintaining strong cash flow.

Rare Foods Australia has secured shareholder approval to voluntarily delist from the ASX, while implementing significant cost reductions and achieving record growth in its Subsea Estate wine brand.