MFB - My Food Bag

[Sideshow Bob]

Just looking at the financials again at half year and current assets vs current liabilities.. MFB have basically got their suppliers to fund the business. That’s not bad actually

Just like Foodstuffs and Progressive......

[percy]

Just like Foodstuffs and Progressive......

I thought they only gave 7 days credit.?

[Sideshow Bob]

I thought they only gave 7 days credit.?

Our small business with Foodies is 20th of the following month.

[percy]

Our small business with Foodies is 20th of the following month.

That is not buying off either Foodstuffs or Progressive.

[Sideshow Bob]

That is not buying off either Foodstuffs or Progressive.

I meant Foodstuffs and Progressive payment terms to their suppliers - not them supplying MFB

[winner69]

I meant Foodstuffs and Progressive payment terms to their suppliers - not them supplying MFB

Só supply foodstuffs early in month you wait 6 to 7 weeks to get paid …..pretty cool eh

[percy]

I meant Foodstuffs and Progressive payment terms to their suppliers - not them supplying MFB

Yes they want 30 days,however their customers are on 7 days.
Well that was the arrangements when I was in business.

[Sideshow Bob]

Só supply foodstuffs early in month you wait 6 to 7 weeks to get paid …..pretty cool eh

Very small part of our business so not a major but if reliant on them, then could be more challenging.

I once got told that one of the New Worlds turned over the stock of their milk chiller 57x before they paid for the 1st bottle of milk.......

Not bad for cashflow.

[winner69]

Just looking at the financials again at half year and current assets vs current liabilities.. MFB have basically got their suppliers to fund the business. That’s not bad actually

You and some others seem to be getting keen on buying into MFB (again?)

Maybe biz has settled at a sustainable level

[Rawz]

You and some others seem to be getting keen on buying into MFB (again?)

Maybe biz has settled at a sustainable level

Thought I would have a look to see if it was worth a punt. I came to the conclusion that there will be no dividend and better bets elsewhere, like 2CC, TWR, HGH etc.