Freedom Food’s FY18 statutory net profit increased 68.7% to $12.7 million on the launch of 70 new product formats including A2 protein milk variants. Annual net sales increased to $353 million, up 34.5% on FY17, in which dairy segment has been the principal contributor as the segment recorded 49.4% growth delivering $139.2 million of revenue.
Statutory EBITDA has shown positive momentum of $8.2 million to $31.5 million in FY18, driven by the high margin growth in retail and food service channels including MilkLab and Almond Breeze Barista.
The group has completed 10% equity investment for a consideration of A$4.7 million into Australia’s Own Dairy Group China-AO China, operating in Kid’s milk products. During FY18 the group established itself as the largest supplier of UHT dairy products in Australia, following new brand launches and the addition of new customer contracts in Australia and export markets.
The Board of Directors declared final dividend of 2.75 cps, up 0.50 cps taking total full year dividend to 5 cps compared to 4.25 cps paid in fiscal 2017. The final dividend is payable on 30 November 2018 with record date of 5 November 2018. Earnings per share has gone up by 57.6% to 6.33 cents per share in fiscal 2018.
FY19 net sales guidance remained unchanged at $500 million to $530 million.
After announcing tremendous growth in business, Freedom Food (ASX: FNP) observed 12.137% share price rise to $6.560 on 31 August 2018. FNP is trading at $6.630 on 3 September 2018 (12:44 PM AEST).
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a company’s prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.