Warrnambool Cheese & Butter Factory Co
(ASX:WCB) has forecast a lift in earnings for fiscal 2014 thanks to improved market conditions.
WCB says it expects fiscal 2014 EBITDA between $47 million and $52 million.
This would be close to double the EBITDA of $25.5 million posted in fiscal 2013.
WCB attributes the rise to improved market conditions and business improvement and strategic initiatives that are contributing to higher margins.
It says the improved earnings outlook is another reason why it recommends shareholders reject Bega Cheese’s Limited
(ASX:BGA) takeover offer.
Warrnambool Cheese & Butter Factory delivered a full year net profit of $7.5 million.
