Bega Cheese, Australia’s largest cheese maker, today (23 February) booked an increase first-half earnings despite a drop in revenues.
In the six months to 25 December, net profit was up 8% to A$11m (US$11.8m), the company revealed.
Go deeper with GlobalData
However, Bega saw sales were down 7% to A$448m (US$479.1m) on the back of falling consumer demand, intense competition and the strength of the Australian dollar.
“The decrease in revenue was largely the result of a decrease in volume of retail and foodservice cheese products,” Bega said. However, the group was able to partly offset this volume decline through higher milk intake volumes and a change in product mix.
Bega announced an interim dividend of three cents per share. No interim dividend was paid in the prior year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
