Key Highlights

  • Pure Foods Tasmania shares were down 26.09% at $0.017 during the Trading session on 22 October 2026
  • FY26 Revenue from ordinary activities was $5,051,597, down 2.3%, with a net loss of $8,780,104
  • The company converted $1.19m of Shareholder loans into shares and raised $750k during the financial year

Shares in Pure Foods Tasmania Limited (ASX:PFT) were down 26.09% at $0.017 during the trading session on 22 October 2026, at the time of the data. For comparison, the S&P/ASX 200 stood at 8,792.20, down 0.44%, while the All Ordinaries stood at 8,916.20, down 0.45%. The Tasmanian company, formed in 2015 to promote the state's premium food and beverage businesses, lodged an update to its Appendix 4E on 1 September 2026, which accompanied its preliminary final report for the year ended 30 June 2026 and contained further commentary on the trading period.

About the Company

Pure Foods Tasmania Limited is listed on the Australian Securities Exchange under the ticker PFT. The operating entity, Pure Foods Tasmania Pty Ltd, was formed in 2015 to enhance and promote Tasmania's premium food and beverage businesses, and the company is based at 100-104 Mornington Road, Mornington, Tasmania.

Its stated strategy covers developing new premium products within existing brands and in the plant-based food market, acquiring complementary brands and businesses, and increasing market penetration and distribution globally.

Business Overview

The group's brands and businesses include Woodbridge Smokehouse, Tasmanian Pate, Daly Potato Co, Brilliant Food Australia and the PFT Ice Cream Division. During the financial year the company acquired two operating businesses, Brilliant Food Australia and Elato Ice-cream.

The company stated that it has continued to rationalise its range, removing products that were unprofitable because of high distribution costs or the expense of ingredients.

FY26 Revenue and Loss

In its Appendix 4E dated 31 August 2026 and the update dated 1 September 2026, Pure Foods Tasmania reported revenue from ordinary activities of $5,051,597 for the year ended 30 June 2026, down 2.3%, or $56,769, which it attributed to the rationalisation of unprofitable products.

The loss after tax attributable to members was $8,780,104, a 212.4% movement from the prior corresponding period. No dividends were declared. Net tangible assets stood at negative 0.08 cents per share at 30 June 2026, against 3.53 cents a year earlier.

Non-Cash Items and Cost Ratios

The company said the loss was heavily affected by non-cash items, including a $4.48m write-off of a deferred tax asset in December 2025. It explained that the write-off follows an accounting standard under which it was considered unlikely to use all carried-forward losses within five years, and does not remove the potential benefit of those losses.

Goodwill of $1.225m was also written off and Depreciation was $772k. These items totalled $6.477m, leaving an unaudited cash loss of $2.3m versus $2.369m in 2025. Cost of Goods Sold was held at 80% of revenue, and total overheads moved from 84% of revenue in 2025 to 76% in 2026.

Recapitalisation and Acquisitions

The company reported that it converted shareholder loans of $1.19m into ordinary shares during the year and raised $750k from sophisticated investors, with Options attached at a 5 cent Strike Price expiring two years from issue. It said the Recapitalisation improved its current liabilities and borrowings.

It has also recruited, and agreed to recruit, for several senior finance, operations and sales roles, and expects the two acquisitions to add revenue in the warmer months of trading.

Related Sector Context

Packaged and specialty food producers generally face exposure to ingredient costs, distribution expenses and shifts in retail demand, while plant-based and ice cream categories add seasonal considerations. Smaller listed food companies often have limited trading liquidity, which can lead to larger percentage moves than in broader indices.

During the 22 October 2026 session the S&P/ASX 200 was down 0.44% and the All Ordinaries down 0.45%, well short of the 26.09% fall in Pure Foods Tasmania shares at the time of the data.

Risks to Weigh In

The company stated that the accompanying financial statements are preliminary and unaudited, and that the accounts are in the process of being audited, so final figures may differ.

The group reported a net loss of $8,780,104 and negative net tangible assets per share at 30 June 2026, with a 20% Gross Profit Margin during a period of increased prices and market pressure. Integration of the two acquired businesses and delivery of the turnaround strategy remain matters of execution.

Catalysts on Watch

The completion of the audit of the FY26 accounts is one milestone arising from the report. The company also pointed to the upcoming warmer months of trading, when Brilliant Food Australia and Elato Ice-cream are expected to add revenue, along with further senior appointments and the continuing review of non-profitable product lines.

Putting It Together

Pure Foods Tasmania shares fell 26.09% to $0.017 during the 22 October 2026 session, while the S&P/ASX 200 and All Ordinaries each eased by less than half a percent. The company's latest update, dated 1 September 2026, showed FY26 revenue of $5,051,597 and a loss of $8,780,104, of which $6.477m was non-cash.