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Dairy Farmers on the Moove
26 Oct 2004
The drought has not impeded a robust lift in profit at dairy co-operative Dairy Farmers, which reported a 28 per cent increase in EBITDA to $95 million, and a restoration in net profit, to $23 million, following a break even result in 2003. However, there were 15 per cent fewer farmers as members of the co-op, producing six per cent less milk, and the company reported stable revenue of $1.3 billion. The company thus recorded a profit margin on less than two per cent. Debt repayments helped the company report a profit this year. Dairy Farmers said it increased its market share and revenues across children's milk products and desserts, retail flavoured milk and retail grocery cheese categories. There was also strong growth in core brands with Coon cheese's revenue up six per cent, Cracker Barrel cheese increasing volume by 20 per cent and Moove flavoured milk advancing sales by 14 per cent. The company is exploring a listing on the Australian Stock Exchange.
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