Fast-growing trans-Tasman dairy group Keytone Dairy has reported strong growth and diversification in the past year with the company now operating from five manufacturing facilities in Australia and New Zealand.
The manufacturer of formulated dairy and health and wellness products reported a loss of $7.45 million for the year to 31 March on turnover of $22.5 million, up from $2.5 million in the previous year.
New Zealand sales were $5 million, a 100 per cent rise.
During the year the group:
# Opened a new state of manufacturing facility in Christchurch (pictured)
# Purchased and integrated the Australian contract manufacturer of powdered and UHT drinks Omniblend into the group
# Completed the acquisition of Super Cubes, a fast growing Australian consumer health and wellness brand
# And secured new customers including Walmart China and Nouriz in China.
Keytone chairman Peter James said the company had continued to grow its core dairy powder business and diversified into the health and wellness space.
“The foundations for the company are now in place and the group is both well capitalised and well-resourced to significantly accelerate and deliver value for customers and shareholders in FY21.”
During the year company raised $12.5 million in a placement to institutional and sophisticated investors, and recently secured a further $359,000 from existing shareholders.
Picture: Keytone Dairy/Christchurch plant
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