Murray Goulburn reports revenue boost citing exports growth

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Murray Goulburn reports revenue boost citing exports growth
Australian dairy co-operative Murray Goulburn has reported revenue and profit increases for the 2011-12 season, citing the impact of increased exports.

The co-operative, which is owned by its dairy farmer suppliers, reported sales revenue of A$2.367bn ($2.38bn, €1.85bn) for the year ended 30 June 2012 – a 3.5% increase on the A$2.287bn posted in the previous year.

Net profit for the 12 month period hit A$37.7m ($39.2m, €30.5m) – a 1.1% increase on the A$37.3m reported last year.

Export sales were up 4% for the period, with demand from China, South East Asia and the Middle East accounting for the majority.

According to the firm, it “performed strongly against a backdrop of falling dairy commodity prices in the latter half of 2011-12 and a high Australian dollar.”

Murray Goulburn processes about one third of Australia’s milk supply, producing products for domestic and export markets.

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