{"id":323348,"date":"2022-09-01T14:05:58","date_gmt":"2022-09-01T04:05:58","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=323348"},"modified":"2022-09-01T14:27:19","modified_gmt":"2022-09-01T04:27:19","slug":"revenue-up-but-begas-profits-drop","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2022\/09\/01\/revenue-up-but-begas-profits-drop\/","title":{"rendered":"Revenue Up But Bega’s Profits Drop"},"content":{"rendered":"
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Executive chairman Barry Irvin cited a 63 per cent growth in revenue for Bega’s “branded segment” during 2021-22 in the company’s latest Annual Report (Photo: Bega)<\/figcaption><\/figure>\n

September 1, 2022<\/strong><\/p>\n

Bega Cheese’s annual results, released to the ASX late last week, reveal a drop in statutory profit of almost $54 million during 2021-22 despite a healthy 45 per cent increase in revenue.<\/p>\n

However, Bega – the parent company of Kingaroy-based PCA – also managed to reduce debt by $60 million to $265 million.<\/p>\n

Profit after tax was $24.2 million, down from $78.0 million on 2020-21.<\/p>\n

Revenue rose to more than $3 billion, up from $2.07 billion.<\/p>\n

The company recorded normalised earnings of $180.1 million and statutory earnings of $149.9 million, with a net operating cash flow of $158 million.<\/p>\n

“It is a testament to the knowledge, experience and capability of our team and the strength of our business that we have managed the supply chain and market disruptions created by the COVID-19 pandemic, record flooding and associated transport challenges,” executive chairman Barry Irvin said.<\/strong><\/p>\n

He said Bega Dairy and Drinks had been successfully integrated into the company during its first full year of ownership.<\/p>\n

Mr Irvin also cited a 63 per cent growth in revenue for Bega’s “branded segment” to $2.5 billion.<\/p>\n

The company announced a final fully franked dividend of 5.5 cents per share for FY2022, taking the total dividend for the year to 11.0 cents per share.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bega Cheese’s annual results, released to the ASX late last week, reveal a drop in statutory profit of almost $54 million during 2021-22 despite a healthy 45 per cent increase in revenue.<\/p>\n","protected":false},"author":20,"featured_media":319878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3,36],"tags":[1134],"yoast_head":"\nRevenue Up But Bega's Profits Drop - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"Bega Cheese's annual results, released to the ASX late last week, reveal a drop in statutory profit of almost $54 million during 2021-22 despite a healthy 45 per cent increase in revenue.\" \/>\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\/2022\/09\/01\/revenue-up-but-begas-profits-drop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revenue Up But Bega's Profits Drop - 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