CANADA: Sales, EBITDA up at dairy co-op Agropur
Canadian dairy co-op Agropur has reported higher annual sales and EBITDA, insisting it was able to grow in a market where competition, it said, has been "at a rarely seen level".
Excluding an extra week in its previous financial year, Agropur posted a 10.1% increase in EBITDA to C$264.4m (US$240.4m) for the 12 months to 2 November. Revenues were up 7% at C$3.8bn.
Agropur did not disclose a net profit figure. However, it said "patronage dividends" were worth C$110.5m in 2013 and members' equity passed C$1bn for the first time. In its last financial year, Agropur declared C$101.6m in patronage dividends.
"We are pleased with our 2013 results," CEO Robert Coallier said. "Competition in Canada remains at a rarely seen level but Agropur was able to grow and maintain solid financial health thanks to tight management and strategic initiatives undertaken throughout the year that support our co-operative's development and longevity."
Agropur has made a series of acquisitions in recent months, most recently the purchase of Quebec brie and camembert maker Fromagerie Damafro.
Dairy in Canada industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The profile also contains descriptions...
Synopsis The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global dairy food market during July 2014. Summa...
Synopsis The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global ice cream market during July 2014. Summar...
- Comment: How dairy can leverage nutrition
- Focus: Why ABF is making bread better-for-you
- Why China was central to Nestle executive change
- just the answer: Gardein founder Yves Potvin
- Focus: Delivering dairy to Indian consumers
- Fonterra warns on geopolitical unrest, oversupply
- Kerry benefits from snacking trends
- Russia "likely to extend food embargo"
- Oreo, gum propels Mondelez China
- Arla CFO Lotz to exit