Australian food manufacturer Green’s Food has announced half-year net profit of AUS$2.61m (US$1.92), a 14.5% year-on-year increase.
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Sales for the half grew by 17.1% to AUS$88.4m, thanks to the addition of Lowan Whole Foods to the company’s portfolio for the entire six months.
Green’s highlighted the strong performance of its baking mixes division, which was driven by the addition of new product ranges, marketing activity and innovation for the Green’s and Cadbury brands, which the company operates under licence.
The company said that the cereal division had focused on revitalising the Lowan product range and improving manufacturing efficiency. Lowan is due to launch a new range of Eden muesli and oat cereals, due out later this month.
The snack food division, including the Poppin and Lolly Gobble Bliss Bombs, has increased its market share, but a decline in the overall popcorn market had a negative impact on sales volume.
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By GlobalDataThe company posted an interim dividend of 1.5 cents per share fully franked.
