Profit and revenue for the first half of the financial year were up for the Bega Group, which includes Bega Cheese.
The group has reported statutory earnings of $109 million, compared to $23 million for the same time last year.
Revenue reached $1.8 billion for the six months, an increase of three per cent on the prior year.
The results were impacted by the sale of the Leeton juice extraction plant to Grove Juice, with a commitment by the new owners to process fruit on behalf of the Bega Group.
The group has repeated its goal of achieving earnings before interest, tax and depreciation of $190 to $200 million for the full financial year.
The group has also announced an interim fully franked dividend of six cents per share for the first half of the year.
The company is handling a reduced debt load, as at December 2024, compared to a year ago.
The Bega leadership welcomed the continued growth in the group’s branded segment profitability, which was up eight per cent compared to the prior year, despite lower consumer spending and down-trading across sales channels and products.
Shepparton News assistant editor and Country News journalist
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