Investors are digesting My Food Bag’s performance data – but Stuff is still feeding off Simon Henry’s remarks about Nadia Lim

Stuff business writer John Anthony was still focused on businessman Simon Henry’s widely reported remarks about My Food Bag co-founder Nadia Lim, a day after the company posted its latest annual results.

His report on Saturday began with news that – according to its chief executive – My Food Bag’s contact centre had been “inundated” with thousands of messages of support for Nadia Lim after “rich lister” Simon Henry made “insulting” comments about her.

Anthony mentioned an earlier Stuff report that the meal kit company had reported a $20 million after tax profit for the year to March 30, up from $2.4m a year earlier.

He noted that this result came two weeks after Henry, the boss of chemical company DGL Group, criticised My Food Bag for including a photo of Lim in its prospectus. Continue reading “Investors are digesting My Food Bag’s performance data – but Stuff is still feeding off Simon Henry’s remarks about Nadia Lim”

Celebrity chef and a chemical company boss – investors choked on the headline outrage during media feeding frenzy

Following up on a daily flow of news about some corporate how’s-your-father that brought the heads of the DGL Group and My Food Bag into a series of articles last week, Point of Order initially was led astray by information on the NZX website.  The company which the NZX records as “DGL” happens to be Delegat Limited, which (its website says) is aiming to be a global Super Premium wine company.

Delegate has invested in state-of-the-art wineries and world class vineyards in the prime grape growing regions of New Zealand and Australia and focuses exclusively on making “the world’s most sought-after Super Premium wines and brands”.

My Food Bag describes itself as an online food delivery business and New Zealand’s longest- standing meal-kit provider, operating in the $37 billion New Zealand retail food sector.

So why aren’t they in bed together?

But no – the corporate contretemps to which we were drawn involves My Food Bag and a chemical company which, although it is named DGL, has been given the code letters DGC for NZX purposes

Having latched on to the DGL which was at the centre of the controversy, Point of Order  checked out the bizarre market consequences of the media’s urge to make a meal of its chief executive’s ill-considered choice of words. Continue reading “Celebrity chef and a chemical company boss – investors choked on the headline outrage during media feeding frenzy”