{"id":313805,"date":"2022-02-24T10:02:20","date_gmt":"2022-02-24T00:02:20","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=313805"},"modified":"2022-02-24T10:06:33","modified_gmt":"2022-02-24T00:06:33","slug":"bega-boosts-profit-despite-covid","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2022\/02\/24\/bega-boosts-profit-despite-covid\/","title":{"rendered":"Bega Boosts Profit Despite COVID"},"content":{"rendered":"

February 24, 2022<\/strong><\/p>\n

Bega Cheese – the parent company of Kingaroy-based PCA – has reported a major boost in profit and revenue in its half-year results, despite COVID-19 disruptions.<\/p>\n

The 29 per cent boost in profit after tax, from $21.7 million to $28 million, was reported to the ASX on Thursday.<\/p>\n

Revenue for the half-year increased 113 per cent, from $707.7 million to $1507.2 million.<\/p>\n

However Bega said the financial impact of COVID-related issues during the six months had been “in excess of $20 million”.<\/p>\n

These issues included global supply chain pressures on internationally sourced materials such as fuel, packaging, resin and coffee.<\/p>\n

“Many suppliers of these products were unable to meet delivery windows creating interruptions to manufacturing schedules, resulting in increased operational costs,” a statement to the ASX reported.<\/p>\n

“In the second quarter, the spread of the Omicron variant created significant disruption to the local supply chain and our customer channels.<\/strong><\/p>\n

“The business suffered from significant absenteeism across Bega manufacturing sites and those of our suppliers which placed pressure on production volumes and service levels and resulted in large cost increases.”<\/p>\n

Bega also noted the significant related costs of rapid antigen tests, personal protective equipment and deep cleaning.<\/p>\n

“The COVID-19 disruption intensified into January with signs of recovery during February,” the statement said.<\/p>\n

Bega Cheese announced an interim fully franked dividend of 5.5 cents per share for the half-year, to be paid on March 24.<\/p>\n","protected":false},"excerpt":{"rendered":"

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