ANZ dairy manufacturer and exporter Keytone Dairy Corporation grew revenues 125 per cent in the financial year to March 31 defying hits from the Covid-19 pandemic.
While Covid affected global logistics and daigou channels – in which individuals purchase Keytone products locally and export them to China – Keytone boosted revenues to $50.7 million, up from $22.5 million in the previous year.
$35.2 million in sales came from its Australian Omniblend contract manufacturing operations, up from $16.8 million, while NZ dairies contributed $11.3 million, and Keytone’s own brands $4.2 million.
Keytone CEO Danny Rotman said: “The record growth across the group over the last 12 months has been extraordinary, particularly given the magnitude of disruption caused by Covid to global logistics and workplace environments.
“The pandemic caused significant headwinds for further penetration of our own brands.”
In Australia Omniblend develops and manufactures products for the wellness sector in both dry product and ready to drink form.
Listed in Australia, Keytone is a New Zealand company and has a financial year ending 31 March. It will report profits prior to the end of May.
Picture: Keytone Dairy Corporation
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