meta Australia’s Murray Goulburn lifts annual profits 61% :: The Bullvine - The Dairy Information You Want To Know When You Need It
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Australia’s Murray Goulburn lifts annual profits 61%

Monday, August 29th, 2016

Murray Goulburn, Australia’s largest dairy processor, said on Wednesday its annual net profit for 2016 rose more than 60 percent.

Murray Goulburn said net profit after tax during the 2016 financial year totaled A$40.6 million ($30.91 million), an increase of 61.2 percent from the previous year and matching analysts’ expectations.

The increase in profits comes despite Murray Goulburn reporting a decline in revenues. The Australian dairy processor said annual revenues totaled A$2.78 billion, a fall of 3.3 percent from the previous year.

($1 = 1.3135 Australian dollars)

 

Source:Reuters

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