{"id":329191,"date":"2023-02-27T12:43:39","date_gmt":"2023-02-27T02:43:39","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=329191"},"modified":"2023-02-27T12:44:29","modified_gmt":"2023-02-27T02:44:29","slug":"bega-profits-slump","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2023\/02\/27\/bega-profits-slump\/","title":{"rendered":"Bega Profits Slump"},"content":{"rendered":"

February 27, 2023<\/strong><\/p>\n

Bega Cheese has reported a slump in profits in its latest half-yearly financial reports despite an increase in revenue.<\/p>\n

In a report to the ASX on Thursday, the company reported that its revenue for the six months to December 25, 2022, was $1.675 million, up from $1.507 million in the same period last year.<\/p>\n

However, earnings per share slumped from $11.7 million to $3.1 million, a drop of 74 per cent.<\/p>\n

The company blamed the timing of farmgate milk price rises, a declining milk supply linked to labour shortages and floods, and inflationary pressure for the hit.<\/p>\n

However, it reported continued growth and strong performance of its branded products, including its spreads category.<\/p>\n

Bega announced recently it would close its Canberra manufacturing facility, formerly known as Capitol Chilled Foods.<\/p>\n

Bega’s share price has dropped from a recent high of $4.04 on January 18 to $3.48 on Monday, but is still ahead of its nine-year low of $3.12 on October 21.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bega Cheese has reported a slump in profits in its latest half-yearly financial reports despite an increase in revenue.<\/p>\n","protected":false},"author":20,"featured_media":314613,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3,36],"tags":[1134],"yoast_head":"\nBega Profits Slump - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"Bega Cheese has reported a slump in profits in its latest half-yearly financial reports despite an 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\/2023\/02\/27\/bega-profits-slump\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bega Profits Slump - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"Bega Cheese has reported a slump in profits in its latest half-yearly financial reports despite an increase in revenue.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2023\/02\/27\/bega-profits-slump\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-27T02:43:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-27T02:44:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2022\/03\/begapeanutbutter.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2023\/02\/27\/bega-profits-slump\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2023\/02\/27\/bega-profits-slump\/\",\"name\":\"Bega Profits Slump - 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