Warrnambool Cheese & Butter Factory Company
(ASX:WCB) has more than doubled its annual profit to $18.5 million, from $8.8 million the year before.
The dairy processor has attributed the result to higher global dairy prices, helping to offset a stronger Australian dollar.
However, CEO David Lord has warned that dairy prices are likely to remain at a high level and will therefore be unlikely to offset the rising dollar in the future.
In the 2011 financial year revenue increased 21 per cent to $504 million.
A fully franked dividend of 11 cents per share has been declared.
