{"id":304882,"date":"2021-08-30T15:11:35","date_gmt":"2021-08-30T05:11:35","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=304882"},"modified":"2021-08-30T20:28:25","modified_gmt":"2021-08-30T10:28:25","slug":"bega-sales-revenue-tops-2b","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2021\/08\/30\/bega-sales-revenue-tops-2b\/","title":{"rendered":"Bega Sales Revenue Tops $2b"},"content":{"rendered":"
\"\"<\/a>
Bega Cheese executive chairman Barry Irvin<\/figcaption><\/figure>\n

August 30, 2021<\/strong><\/p>\n

Bega Cheese’s annual sales revenue for 2020-21 has risen 39 per cent over the previous 12 months, topping $2.07 billion.<\/p>\n

This was up $580.2 million over 2019-20, full-year audited results released to the ASX on Friday show.<\/p>\n

Bega – which owns the Peanut Company of Australia in Kingaroy – attributed the rise in annual revenue to its $528 million acquisition of Lion Dairy and Drinks during the past year.<\/p>\n

This purchase led to Bega more than doubling its workforce to over 4000 employees and expanding its cold chain distribution network to be one of the largest in Australia.<\/p>\n

Consolidated debt rose from $231 million to $325 million, which the company said was mainly due to $125 million in borrowings to partially fund the Lion acquisition.<\/p>\n

The increase was offset by operating cash inflows of $114.4 million.<\/p>\n

The company announced a final fully franked dividend of 5 cents per share, taking the total dividend for the year to 10 cents per share.<\/p>\n

Bega’s annual report noted there had been a “significant increase” in the volume of peanuts harvested, due to improved weather conditions and “active peanut grower engagement”.<\/strong><\/p>\n

“The FY2021 harvest was the largest since 2013 following several years of challenging growing conditions and industry uncertainty prior to our acquisition of PCA back in 2018,” the report stated.<\/p>\n

“The current forecast is for favourable weather conditions in key growing regions in Queensland which will support new crop planting towards the end of calendar year 2021.”<\/p>\n

The final resolution of the ongoing dispute – in Australian and US courts – with Kraft Heinz over peanut butter “trade dress” (ie. labelling and packaging) resulted in Bega receiving $9.25 million in June this year.<\/p>\n

Executive chairman Barry Irvin said the company had experienced a softening in demand for infant formula due to changes in the Chinese market.<\/p>\n

CEO Paul van Heerwaarden noted in the annual report that Bega would continue to look for opportunities to further diversify its customer base across a variety of markets to mitigate the potential impact of “geopolitical tensions” which have seen a change in demand for some products in the international market.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bega Cheese’s annual sales revenue for 2020-21 has risen 39 per cent over the previous 12 months, topping $2.07 billion.<\/p>\n","protected":false},"author":20,"featured_media":6200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,36],"tags":[1134],"yoast_head":"\nBega Sales Revenue Tops $2b - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"Bega Cheese's annual sales revenue for 2020-21 has risen 39 per cent over the previous 12 months, topping $2.07 billion.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2021\/08\/30\/bega-sales-revenue-tops-2b\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bega Sales Revenue Tops $2b - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"Bega Cheese's annual sales revenue for 2020-21 has risen 39 per cent over the previous 12 months, topping $2.07 billion.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2021\/08\/30\/bega-sales-revenue-tops-2b\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-30T05:11:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-30T10:28:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2012\/07\/silos.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"220\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anne Miller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anne Miller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2021\/08\/30\/bega-sales-revenue-tops-2b\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2021\/08\/30\/bega-sales-revenue-tops-2b\/\",\"name\":\"Bega Sales Revenue Tops $2b - 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