Bega Cheese (ASX:BGA) announced its full year audited results for the financial year ended 30 June 2020 showing statutory profit after tax rose by a huge 384 per cent for the year to $21.3 million.
Their normalised EBITDA (earnings before interest, tax, depreciation and amortisation) is down 2 per cent to $103 million.
Statutory EBITDA of $87.8 million was 11 per cent higher than the prior year.
Strong growth in the Australian and international branded business did not entirely offset the impact of reduced margins in Bega Cheese’s bulk dairy ingredients and nutritionals business.
Shares in Bega Cheese (ASX:BGA) are trading 4.3 per cent higher at $5.07.