Australian dairy producer Dairy Farmers, which last week announced it had agreed to a takeover approach from National Foods, posted a 25% jump in annual earnings, despite incurring A$170m (US$144.6m) in costs during the period.
Go deeper with GlobalData
The co-operative today (1 September) posted a surge in EBITDA during fiscal 2008 to A$71m, which was at the top end of previously-issued earnings guidance. This compared with A$57m for the same period last year.
“The lift in earnings can be primarily attributed to Dairy Farmers’ turnaround strategy of investing behind high-margin branded products across key channels – which has been underpinned by a strong innovation pipeline, sustained cost-out initiatives and continued price recovery from the marketplace,” said Dairy Farmers chief executive Rob Gordon.
Net profit after tax increased to A$13.7m in fiscal 2008 from A$10.6m in 2007.
The company posted an 11% increase in revenue from $1.18bn in fiscal 2007 to $1.31bn in fiscal 2008. This trend was particularly evident in the retail channel, Dairy Farmers said, where sales increased by 17% and in the route channel where growth of 11% was achieved.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataDairy Farmers said it will launch a number of new products in 2009 including a new dairy drink, Rise, as well as a “packaging advance” in the cheese category.
