Bega Cheese reported a solid net profit amid higher revenue in the last fiscal year, thanks to its more robust branded segment performance.
The company’s net profit stood at $30.5 million while revenue grew 4 per cent to $3.52 billion.
The branded segment’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) surged 48 per cent to $206.2 million.
However, the bulk segment posted a loss of $18.2 million due to global dairy prices remaining disconnected from Australian farm gate milk prices.
Bega Cheese expects further profitability improvement in the current fiscal year as it continuously focuses on cash optimisation, benefiting from corporate restructuring and other cost-saving measures.
