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.
- Interview: Mondelez eyes sweet success in China
- The benefits of engaging staff in sustainability
- How food companies involve staff in sustainability
- What next for Bernard Matthews? - comment
- Why Danone is withdrawing Dumex from Vietnam
- Fonterra says value-added strategy paying off
- Ireland unveils national plan to tackle obesity
- B&G Foods acquires ABF's US spice business
- General Mills profit falls as sales disappoint
- Bernard Matthews pensions scheme under review
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Foodservice Market 2016-2020
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review
- Global Food and Drinks Closures: Performance and Opportunities