Australian premium food producer, Buderim Ginger, has advised that trading results for the half year just completed will come in below expectations. Accounts for the half-year to 30 June 2009 are not yet complete but the Group expects operating profit to fall to a breakeven figure from $1.2 million in the same period last year. Chairman John Ruscoe said that the Group’s performance had been hampered by a number of factors, including unfavourable exchange rates and a fall in demand from key... ...Read more »
Food producer, Buderim Ginger Limited, today announced after-tax profit for 2008 more than doubled to $2.006M from $671,000 in 2007. “Operating profit for the Group increased solidly for the full year and the result was boosted by a one-off benefit pertaining to the recent acquisition of Mac Farms of Hawaii,” Chairman, John Ruscoe, said. “The result was struck on a 44% lift in annual revenue to $74M. The Board was satisfied with the result particularly given the economic conditions... ...Read more »
Buderim Ginger has been awarded $245,100 to create an allergy-free ginger product, Queensland’s Industry Minister, Desley Boyle, announced this week.The funding, from the State Government’s Business and Industry Transformation Incentives (BITI) scheme, will go towards the development of a new processing system that eliminates the need to use sulphites as a preservative. Minister Boyle said that Yandina-based Buderim Ginger was one of the world’s leading manufacturers of confectionery... ...Read more »
Buderim Ginger Limited has revised its full year profit forecast upwards after completing a deal that will make the Queensland food company potentially the world’s largest processor and marketer of macadamia nuts. Company chairman John Ruscoe said the world’s leading producer of confectionery ginger today had signed an Asset Purchase Agreement to acquire substantially all of the assets of Mac Farms of Hawaii, LLC (Mac Farms). “The acquisition will enable the company to increase... ...Read more »
Premium food producer Buderim Ginger is set to become the world’s leading broad-based macadamia nut processor and marketer after signing a letter of intent to acquire all of the assets of MacFarms of Hawaii, LLC (MacFarms). Buderim Ginger Limited Chairman, John Ruscoe, yesterday announced the Company had signed a non-binding letter of intent to acquire substantially all of the assets of MacFarms and to lease a 3,903 acre macadamia orchard owned by Kapua Orchard Estates, LLC (Kapua), an affiliate... ...Read more »