Bega Group, an Australian food and dairy company known for its Bega Cheese brand, has reported a revenue of $1.8 billion for the first half of the financial year, marking a 3% increase from the previous year. The group’s statutory earnings reached $109 million, significantly higher than the $23 million recorded in the same period last year. The sale of the Leeton juice extraction plant to Grove Juice contributed to the results. Bega Group aims to achieve earnings before interest, tax, and depreciation between $190 million and $200 million for the full financial year.
Bega Group, a leading Australian food and dairy company best known for Bega Cheese, has announced $1.8 billion in revenue for the first six months of the financial year. This marks a 3% increase from the previous year, alongside a significant boost in statutory earnings, which rose to $109 million from $23 million in the same period last year.
The financial results were impacted by the sale of the Leeton juice extraction plant to Grove Juice, which has committed to processing fruit for Bega Group. Despite economic challenges, the company reported an 8% increase in profitability within its branded segment, showing resilience in the face of reduced consumer spending.
The company has also managed to reduce its debt load compared to December 2023. Looking ahead, Bega Group has reiterated its goal of achieving earnings before interest, tax, and depreciation (EBITDA) between $190 million and $200 million for the full financial year.
Bega Group continues to strengthen its position in the Australian dairy and food sector, emphasizing operational efficiency and brand profitability despite market challenges.
