Bega Cheese Ltd
(ASX:BGA) has released its preliminary results, and reported that its revenue grew 7.5% to $1.2 billion in FY16.
Bega Cheese also says its profit after tax rose 132% to $28.8 million.
The company says the drivers of this growth include investment in process improvements and efficiencies, as well as establishing new relationships with customers in the “nutritionals platform”.
The company also says its solid result was despite a challenging environment of softening dairy demand in China, sanctions in Russia, and a highly competitive Australian market.
The company declared a fully-franked final dividend of 5 cents per share. This brings the total dividends in FY16 to 9.5 cents per share.
