Bubs Australia achieved $79.7 million group revenue in FY24, which was in line with its guidance and a 33 per cent increase on the prior corresponding period (pcp). While it reported a statutory after-tax loss and full year EBITDA loss, both were a sizeable improvement on FY23.

Retailer Woolworths Group recorded a 5.6 per cent increase in group sales to $67.9 billion, with its Australian Food sales growing 5.6 per cent to $50.7 billion. Its net profit fell 0.6 per cent to $1.7 billion in the 52 weeks to 30 June before significant items. 

Earlier this year, Food & Drink Business profiled the alcohol brand, Solbevi, as its Rising Star. Its indefatigable founder, Stefan Di Benedetto, set the goal of Solbevi Limoncello being behind every bar side-by-side with Campari and Aperol, and launching Australia’s first Limoncello Spritz ready-to-drink (RTD). But with many triumphs have come desperate lows. As Solbevi turns one, we caught up with Stefan to reflect on the ride so far.

Fonterra says the $75 million investment at its Studholme site will increase capacity for its protein ingredients business, a key component of the coop’s growth strategy.

Coles Group reached a two-year high in FY24, reporting an 8.2 per cent rise in earnings to $3.65 billion and a 4.4 per cent rise in revenue to $43.7 billion. Supermarket earnings rose 10.5 per cent to $3.5 billion and profit increased 8.3 per cent to $1.1 billion.

The Australian food and beverage sector recorded profitability declines of a 25 and 28 per cent respectively year-on-year, according to research by inventory management software company, Unleashed.

Wines of Western Australia has appointed Eloise Jarvis as program manager for the sustainability adoption, certification and promotion for Western Australian wine growers and producers project, through a co-funding partnership with Wine Australia.

RaboBank states Australia’s tree nut industry is in a period of growth – expecting significant almond and macadamia orchards maturation over the next few years to provide opportunities to meet growing international demand.

The August/September edition of the Food & Drink Business magazine has landed, reflecting on some of the year's biggest events and focusing on key aspects of the industry. 

The Australian Bureau of Statistics' livestock product report shows a notable lift in the female slaughter rate for Australian cattle, which places the industry in a destock phase.

Orange grower and juice processor, Grove Juice, is set to acquire Bega Group’s Leeton juice extraction facility and assets. Bega will continue to source fruit for its beverage range, with Grove Juice processing it as part of a long-term agreement.

McDonald’s Australia has increased its support of the local supply chain over the past year, with its 2023 Australian Shopping List revealing the business purchased over 330 million kilograms of local produce, products, and ingredients.

In light of a softening consumer environment, Endeavour Group managing director and CEO, Steve Donohue, said the business’ F24 performance reflected its resilience during “challenging trading conditions” and a “softening” consumer environment.

Dairy giant Fonterra has been recognised for its commitment to sustainable packaging, achieving ‘Leading’ status under the Australian Packaging Covenant Organisation (APCO) standards based off its 2024 Annual Report.

Despite Ingham’s recording a 68 per cent increase in net profit after tax to $101.5 million and revenue up 7.2 per cent to $3.3 billion, its share price dropped 20 per cent on news of a smaller contract with Woolworths and forecast flat growth.

Bacardi-Martini Australia has appointed Kayla Grigoriou as its Angel’s Envy whiskey specialist. Food & Drink Business spoke to Grigoriou about her industry experience, the influence of bourbon, and the Australian whiskey scene.