Soya milk company reveals financial loss

- Last updated on GMT

Related tags: Soy milk, Foods, Australia, Producer

Australia's largest producer of whole bean soya milk So Natural
Foods said on Wednesday it would post a modest loss for the fiscal
year 2001.

The...

Australia's largest producer of whole bean soya milk So Natural Foods said on Wednesday it would post a modest loss for the fiscal year 2001. The result would be significantly better than the $105,000 loss posted in the first half, the company continued, Industry Search reports. The forecast follows successful resolution of the Land and Environmental Court matter, which confirmed the 24-hour operating licence of the company, it said. "Profitable trading in the current six months of the year will result in a significantly better outcome than the first half loss reported,"​ the company said in a statement. "This is attributable to an improvement in operating efficiencies following the doubling of installed capacity in our factory since April, as well as some stability returning to the soy milk market."So Natural​ said sales for the second half were 10.5 per cent higher than for the six months to December 31, 2000. In March, So Natural announced a first half sales revenue of $11.2 million, down 10.5 per cent on the previous year.The $105,000 first half earnings loss was a fall of 122 per cent on the previous corresponding period. So Natural last year posted a $1.13 million profit after tax for the year ending June 30, 2000.

Related topics: Market Trends

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