Murray Goulburn said net profit after tax during the 2016 financial year totaled A$40.6 million ($30.91 million), an increase of 61.2 percent from the previous year and matching analysts’ expectations.
The increase in profits comes despite Murray Goulburn reporting a decline in revenues. The Australian dairy processor said annual revenues totaled A$2.78 billion, a fall of 3.3 percent from the previous year.
($1 = 1.3135 Australian dollars)
Source: DairyHerd
Link: http://www.dairyherd.com/news/industry/australias-murray-goulburn-lifts-annual-profits-61