AUSTRALIA: Golden Circle posts 7% increase in profits

Australian food processor Golden Circle posted a 7% increase in profit to A$9.29m (US$4.7m) for its operations during the 2000 calendar year. At the company’s AGM in May, managing director Barry Kelly had warned that the business was being damaged by the artificially low prices currently being offered to pineapple importers, but record sales revenue of A$263.1m was recognised as the driving force behind the profit increase.

July 2, 2001

Australian food processor Golden Circle posted a 7% increase in profit to A$9.29m (US$4.7m) for its operations during the 2000 calendar year.

At the company’s AGM in May, managing director Barry Kelly had warned that the business was being damaged by the artificially low prices currently being offered to pineapple importers, but record sales revenue of A$263.1m was recognised as the driving force behind the profit increase.

Golden Circle has meanwhile applied to the customs department for anti-dumping duties to be levied on pineapple products imported into Australia.