Profit, Revenue, Milk intake all down at Murray Goulburn
- By: "Farm Tender" News
- Regenerative Ag & Carbon Farming News
- Feb 07, 2018
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Below is a snapshot of the Murray Goulburn half-yearly financial result
* Milk intake of 1.1 billion litres, 29.9 percent below 1H1 7, impacted by inability to pay a competitive farmgate milk price
* Revenue of $1.1 billion, down 5.1 percent compared to 1H17,
driven by reduced milk intake but offset by higher commodity pricing and inventory sell down
* Statutory net loss after tax of ($27.5) million including $62.7 million non-cash tax adjustments to comply with accounting standards relating to the announced Saputo transaction
* Normalised Net Profit After Tax (NPAT1) of $14.4 million excluding non-cash tax adjustments
* Net debt at 31 December 2017 of $474 million with gearing ratio of 38.8 percent
* Subject to completion of the Saputo transaction, MG maintains
a forecast FY18 Full Year FMP2 of $5.60 per kilogram milk solids
(kgms)
* $41.9 million (post tax) of approved deviation from Profit Sharing Mechanism utilised to maintain an underlying FMP of $5.20 per kgms
* Dividends and distributions remain suspended
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