Covering the Goulburn and Murray valleys

Record sales for Murray Goulburn

Murray Goulburn announced a record sales revenue for 2013-14, but its net profit after tax dropped more than $5 million.

August 27, 2014 1:29pm

Murray Goulburn, Australia’s largest dairy foods company, has announced a record sales revenue of $2.917 billion, which is up 22 per cent for the financial year up to June 30.

The company’s net profit after tax was $29.3 million, dropping from $34.9 million the previous year.

A record farmgate milk price of $6.81 a kilogram of milk solids has also gone up 37 per cent, while milk intake went up 8 per cent to 3.4 billion litres.

The co-operative gained $36 million from the sale of its Warrnambool Cheese and Butter shares which helped it increase its equity by $59 million.

MG managing director Gary Helou said the impact of international factors such as in New Zealand, Europe, China and Russia on the market conditions had resulted in revised farmgate price from $6.15 to $6.30kg/MS to $6kg/MS.

More in Friday’s Riverine Herald.

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