Australian ginger producer Buderim Ginger has disappointed investors by halving its dividend payout for 2003.

2003 year-on-year net profits came in 34.5% lower than the previous year at A$504,000 (US$369,800), despite a marginal increase in turnover. The rise in the Australian dollar, drought and increased international competition are behind the sluggish performance, reported The Age.

Full-year EBIT was also down to A$1.13m, just half the total reported two years earlier in 2001.