It’s the $10 million boost to the bottom line that investors don’t like to see. Earlier this week, the gourmet food empire named for high-profile cook Maggie Beer said it would not need to pay the founders of a hampers group the last payment in the $40 million deal – because it missed sales targets.
It has been a long slide for the company – best known for its eponymous stock, pate and other gourmet food items – over the last 12 months. Last June, Maggie Beer Holdings was worth around $200 million. On Friday, its market capitalisation was just under $50 million.