AUSTRALIA: SPC Ardmona posts rise in H1 net profit

Australian fruit and vegetable processor SPC Ardmona has posted a 6.5% rise in interim profit and said it is confident of stronger growth in the second half. Shepparton-based SPC Ardmona posted first-half net profit of A$11.6m (US$7.6m). Revenue was up by 16% to $242.8m, helped by growth in the fruit and tomato sectors. Exports in the first half were up 24% to $74.8m.

August 12, 2003

Australian fruit and vegetable processor SPC Ardmona has posted a 6.5% rise in interim profit and said it is confident of stronger growth in the second half.

Shepparton-based SPC Ardmona posted first-half net profit of A$11.6m (US$7.6m). Revenue was up by 16% to $242.8m, helped by growth in the fruit and tomato sectors. Exports in the first half were up 24% to $74.8m.

The company, which was formed in January 2002 through the merger of SPC and Ardmona Foods, also said it has sold its 70% interest in its packaging technology business Pak Technologies, which the company no longer considers a core business, reported Asia Pulse.