Warrnambool Cheese & Butter Factory Co
(ASX:WCB) has delivered a full year net profit of $7.5 million, down 50 per cent on last year.
The Victorian dairy product manufacturer’s profits were hit by the strong Australian dollar and high dairy prices.
Revenue dropped slightly to $496.5 million in the year to June 30, but income from exports fell by 24 per cent due to the Australian dollar's relative strength against the US currency.
Chairman Frank Davis says the year has been difficult and disappointing, but the company has taken strategic steps to maintain its long term revenue base.
Wanambool Cheese declared a fully franked final dividend of 11 cents per share.
