So Natural Foods Australia has posted a 363% rise in full-year net profits to A$1.4m (US$1.05m).
The company has also forecast a further rise in net profits for the 2007 fiscal year to A$2.3m.
The company said that it was seeking growth opportunities for each of its five divisions – Paramount Seafood, Soy and Rice Beverages, Contract Beverages of Australia, Freedom Foods and Thorpedo Foods – through existing strategic partnerships and acquisitions in complementary market segments.
So Natural said profit growth in the year to 30 June 2006 was driven by an improved operating performance across all its divisions.
The Paramount Seafood division boosted comparable net sales by 15% to A$18.8m, while sales in the company’s soy and rice beverage division saw sales growth of 9.5% to $15.8m.
Dietary food products company Freedom Foods recorded a 5% increase in net sales to $10.3m. However, So Natural said that its Thorpedo Foods division had missed its sales target.
