Bega's acquisitions weigh on FY18 profit

Company News

by Anna Napoli

Bega Cheese (ASX:BGA) has reported its net profit (NPAT) fell 79 per cent on the previous year to just under $29 million for this financial year.

The dairy company’s total revenue lifted 17 per cent on the prior year to over $1.4 billion.

Its earnings (EBITDA) decreased 60 per cent on the prior corresponding period, to $92 million.

However, the company’s normalized earnings (EBITDA) which exclude the impact of one-off items were actually up 55 per cent to $110 million when compared to the prior corresponding period.

The board has declared a final dividend of 55 cents per share.

Bega says its statutory results reflect the sales of assets last year and the costs of corporate activity this financial year, which included the acquisition of Bega Foods for $460 million.

Shares in Bega Cheese (ASX:BGA) are trading 2.09 per cent lower at $7.50

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.