Buderim Ginger, of South-East Queensland, Australia, has reported a post-tax loss of A$131,000 (US$72,000) for the first half of this year, a major difference from the A$452,000 profit that the company reported for the same period last year.
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Buderim, which makes assorted ginger products including pickled ginger and ginger marmalade, admits that the loss was expected.
“The biggest issue for us is given that we’re a predominate exporter, about 70% of our business is done in North America and Europe, we experienced some fairly difficult trading conditions in those markets, given their economic conditions at the moment,” general manager Gerrard O’Brien told the Australian Broadcasting Corporation (ABC) News.
“We’re also affected by things like insurance rises that were extremely damaging to us – also we went through a fairly expensive restructuring during the first quarter with our board.”
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By GlobalData
