Bega Cheese sees profit slump 59%

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Bega Cheese (ASX:BGA) has seen their profit decline by half to $11.8 million, a loss of 59 per cent from $28.8 million a year ago.

Normalised EBITDA is up 5 per cent to $115.4 million.

On a statutory basis Bega Cheese generated EBITDA of $89.5 million, 3 per cent below the prior year, which reflects primarily one-off acquisition costs related to the Koroit facility and Coburg closure costs.

They generated record revenue of $1.42 billion in FY2019, up by 13 per cent.

Final dividend at a fully franked 5.5 cents per share.

Shares in Bega Cheese (ASX:BGA) trading 5.2 per cent higher at 4.04.
 
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Source: Finance News Network