The Australian honey producer reported a net profit before tax of $5.12 million in the six months to December 31, up from $2.45 million for the same period last year, before the impact of the Richland’s fire and insurance reimbursements.
Revenue increased 34 per cent to $57.9 million, up from $42.3 million for the same period last year, due to growth in domestic and export markets.
Capilano said international interest in its retail products continues to grow, with expanding ranges in the Middle East and Asia. Overall exports sales grew 19 per cent year to date.
Last month, Capilano acquired Victorian-based honey producer, Yellow, which trades as Chandlers Honey.
The sale of the business is expected to increase Capilano’s packing volumes by 1000 tonnes and expand the company’s operational capacity to meet a larger sales demand.
Chandlers Honey’s operations will be moved to Capilano’s Honey making facility in Maryborough in regional Victoria.