Bega Cheese sees profit slump 59%

Company News

by Rachael Jones

Bega Cheese (ASX:BGA) has seen their profit decline by half to $11.8 million, a loss of 59 per cent from $28.8 million a year ago.

Normalised EBITDA is up 5 per cent to $115.4 million.

On a statutory basis Bega Cheese generated EBITDA of $89.5 million, 3 per cent below the prior year, which reflects primarily one-off acquisition costs related to the Koroit facility and Coburg closure costs.

They generated record revenue of $1.42 billion in FY2019, up by 13 per cent.

Final dividend at a fully franked 5.5 cents per share.

Shares in Bega Cheese (ASX:BGA) trading 5.2 per cent higher at 4.04.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.