Freedom Foods bucks dairy trend
Unlike other Australian dairy producers, Freedom Foods has achieved sales growth within its dairy operations for the first half of the 2017 financial year.
Freedom’s dairy operations at Shepparton, Victoria, achieved a sales growth which the company said reflected new contracts and increased demand in Australia, China and South East Asia.
Freedom also achieved growth in its dairy beverages sales, including its ‘Australia’s Own Kid’s Milk’ sold in China.
Australia’s Own Kid’s Milk is now the leading imported children’s milk brand in China were it is distributed.
Overall profit increase
The overall operating net profit reported by Freedom Foods for the first half of its 2017 financial year was AUD $5.3 million.
This was a 78 per cent increase on its results for the first half of its 2016 financial year.
Each of Freedom Foods’ business units achieved increased sales except for its Speciality Seafood division which was impacted by a shortage in sardine supply and an unfavourable exchange rate on purchasing in salmon and sardines.
Cereal and snacks
Freedom’s cereal and snacks operation delivered an increased operating earnings result. This included a full contribution from its acquired Darlington Point Mill and Dandenong business.
Sales in Freedom’s plant-based drinks increased.
Freedom said its Taren Point production facility is at capacity and that its new facility at Ingleburn will help reduce costs of ongoing operations.
- Freedom Foodsstrikes big China deal
- Freedom Foodsmoves from shelf to fridge
- Freedom Foodsmaintains profits despite market volatility
Allen’s Lollies has again decided to ask the Australian public to choose what its next new lolly var...
Part CSIRO owned business, The Healthy Grain Company, has appointed a former Chief Executive Officer...
Aldi has recalled a range of hot dog rolls after metal shavings were found inside some of the rolls.
Woolworths, Coles and Harris Farm Markets have all made a commitment to stop offering customers sing...
Aldi will spend 2018 continuing to expand across Australia with plans to open 32 new stores througho...
Earlier this year German discount supermarket Kaufland were advertising for employees in key positio...
Australia’s ageing population presents big opportunities for food and beverage manufacturers.
The Victorian Environment Protection Authority (EPA) has fined Bulla Dairy for spilling approximatel...