My Food Bag has had to backtrack from statements its chief executive made about the company's financial prospects ahead of its initial public offer amid concerns they may have run counter to market regulations, the NZ Herald reports.

At issue are comments reportedly made by Kevin Bowler in a BusinessDesk story headed "My Food Bag will outperform IPO forecasts, says chief executive".

In response to questions about the company's growth prospects in light of the IPO Product Disclosure Statement forecasting a small decline in revenue and delivery volumes in the 2022 financial year, Bowler is reported to have said:

"We've got a business plan that we think will outperform that but didn't want to put a PDS [Product Disclosure Statement] into the market that is indicating numbers that had risk in them."

Late yesterday My Food Bag chairman Tony Carter issued a statement in a quest to clarify Bowler's comments.

"The board believes that the prospective financial information contained in My Food Bag's product disclosure statement dated February 11, 2021 (PDS) has been prepared with due care and attention, and considers the assumptions, when taken as a whole, to be reasonable at the time of preparing the PDS.

"My Food Bag is confident that it will achieve its prospective financial information, but any suggestion that the business will outperform those financial results should be disregarded," Carter said.