BEER’S BRANDED FOODS FAIL TO COOK UP ENOUGH INTEREST

CELEBRITY cook Maggie Beer might be a whiz in the kitchen but latest financial results reveal Australians may have gone cool on her branded foods.

Maggie Beer Products, which produces goods including sauces, ice creams and quince pastes, says it could make a full-year loss of as much as $2.6 million.

It is a blow for former Victoria premier Jeff Kennett, who is an investor in the company behind the products. Primary Opinion, a publicly listed company, last year bought a 48 per cent stake in Maggie Beer Products for $15 million.

Mr Kennett is a former director of Primary Opinion and according to Bloomberg, owns 2.6 per cent of the business – a stake worth about $600,000.

Primary Opinion has reported to the Australian Securities Exchange that its own board has viewed a draft financial report for Maggie Beer’s food arm – and the outlook is bleak. It is believed the South Australian-based retailer’s sales in the supermarket channel are especially under pressure.

Maggie Beer is famous for her skills in the kitchen but Maggie Beer Products says it could make a full-year loss of as much as $2.6 million.