Ingham’s expands, automates to improve results

Food producer and manufacturer Ingham’s Group has reported an EBITDA of $471.1 million for FY24 up 12.6 percent on FY23 as it focused on acquisitions and capability, capacity and network resilience.

NPAT was up 68 percent to $101.5 million on revenue up 7.2 percent over the previous corresponding period to $3.3 billion.

Inghams CEO and Managing Director Andrew Reeves said: “In FY24, Inghams has delivered its highest earnings…since listing in 2016. Prices were raised 5.4 percent.

“Our strong results are underpinned by volume growth, improved margins, and good cost control and operational outcomes across both farming and processing.”

During the year Ingham’s acquired Bromley Park Hatcheries in New Zealand and the strategically important Bolivar Primary Processing facility in South Australia.

It also opened a new distribution centre in Hazelmere, Western Australia and purchased the Bostock Brothers (BBL) organic chicken business in New Zealand for $35.3 million.

“The acquisition of BBL aligns with Inghams strategy and provides growth and margin opportunities which include greater domestic market share, export, and expansion into value-added and further processed categories.”

Ingham’s also continued its automation investment programme including the installation of four new leg deboning machines earlier than forecast and ahead of budget.

“The installation of four new waterjet cutters is progressing well and remains on-track for completion in FY25.”

Two new improvement projects have begun.

The first of these involves converting a Lisarow production line in New South Wales to a fully cooked capability, increasing east coast production capability and capacity.

The second project is the transfer of our Value Enhanced (VE) production from the primary production facilities at Somerville in Victoria and Murarrie in Queensland to the further processing operation at Ingleburn in New South Wales.

Picture: Ingham’s Group