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Parmalat stabilises profit
31 May 2005
The operating profit of the Australian operations of dairy processor Parmalat Australia - which makes Paul's milk and Vaalia yoghurt - increased by two per cent in 2004 to $56 million, despite a steep rise in its interest bill. Banks charged Parmalat penalty interest rates after the insolvency of its owner in Italy Parmalat Finanziaria. Parmalat Australia has since negotiated replacement loan facilities with an ANZ Bank-led syndicate, which includes Suncorp Metway and Bank of Scotland.
Sydney Morning Herald, 31/05/05
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