Bega Cheese has announced an almost ten per cent rise in first half profit as the company continues to switch its focus away from commodities in favour of branded and value added consumer products.
The company reported profit after tax of 14.5 million and revenue of $561.4m, a rise of 1.6 per cent.
“Bega’s strong branded business and product mix continues to deliver relatively stable revenue and profitability to the company,” executive chairman Barry Irvin said.
Bega Cheese recently partnered with Blackmores in infant formula and life stage nutritionals.
Organic infant formula maker Bellamy's has also reported strong growth on the back of demand from China.
The company saw a fourfold increase in net profit to $13.66m and an 83 per cent rise in revenue to $105.14 in the half to December.
Commenting on the company’s result, Bellamy's managing director and CEO, Laura McBain, said: “Our deep understanding of the complex organic global supply chain, strong relationships with key suppliers, and expanding distribution network places Bellamy's in a unique position to continue benefiting from strong domestic and international demand.”
