AUS: Bega Cheese FY profit climbs
- Net profit up 43.3%
- EBITDA grows 14%
- Net sales climb 9.6%
Bega put the growth down to investment in “value-adding infrastructure”
Australia's Bega Cheese has booked an increase in first-half profits, despite a "highly competitive" market, a strong Australian dollar and "volatile" global dairy commodity prices.
Earnings in the six months ended 30 December were up 43.3% to A$15.9m (US$16.3m), the company reported today (21 February). EBITDA grew 14% to A$37.4m. Bega put the growth down to investment in "value-adding infrastructure".
Sales in the period amounted to A$491m, a 9.6% increase on the prior year period.
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