SPC Global Holdings booked proforma revenue of $197.9 million in the first half, ahead of the food and beverage manufacturer’s expectations and attributed to strong contributions from Nature One Dairy and Natural Ingredients.
The normalised proforma net loss stood at $10.3 million, while the normalised proforma earnings before interest, taxes, depreciation, and amortisation (EBITDA) totalled $7.5 million.
During the period, the company inked a 10-year $250 million deal with DFI Retail Group in Hong Kong and Macau.
The company’s SPC Global arm expanded its US range through Amazon, while its Juice Lab Shots entered New Zealand.
“Both the SPC and Original Juice Co divisions experienced manufacturing challenges, where purchasing patterns and requirements did not meet demand profile,” said the company.
“Immediately upon completion of the transaction, focus shifted from being manufacturing-led to being a demand-led business, servicing addressable markets, primarily in the core tomato and peaches categories.”
The company noted that given the seasonal nature of its business, it expects the second-half performance to contribute significantly.
The company also plans to expand its sales channels and product categories in the second half.
Meanwhile, the company said it identified opportunities to increase production immediately at its Mill Park plant by between 24 per cent and 40 per cent.
SPC said it plans to relocate its production lines from Mill Park to Shepparton within the next 24 months as part of a longer-term expansion plan, which will deliver about $4 million to $5 million in operating efficiency savings.
The improved production capability and relocation plans are estimated to cost $23.5 million.
