Keytone Dairy (KTD) ushered in $15 million worth of revenue over the September quarter, its second quarter of the 2022 financial year
The dairy products manufacturer brought in $5.7 million in sales alone over September, implying a material increase in its annualised run rate
KTD’s Australia Contract Manufacturing and New Zealand Dairy segments performed well over Q2, recording 16 per cent and 6 per cent sales increases respectively
But, the company’s Brands segment softened considerably due to lockdowns in Australia and the closure of Super Cubes Purees in Woolworths (WOW)
Keytone Dairy (KTD) has ushered in $15 million worth of revenue over the September quarter, its second quarter of the 2022 financial year.
The dairy products and health foods manufacturer said the result represented a 10 per increase on Q2 FY21’s revenue achievement.
KTD noted it brought in $5.7 million in sales alone over September, implying a material increase in its annualised run rate.
The company also revealed its Australia Contract Manufacturing and New Zealand Dairy segments performed well over Q2 as well, recording 16 per cent and 6 per cent sales increases respectively.
The same positive momentum wasn’t felt in KTD’s Brands segment, which[BCOLOR=rgba(0, 0, 0, 0.2)] softened considerably due to lockdowns in Australia’s east coast.[/BCOLOR]
Brands sales fell 34 per cent over the September quarter, with the drop also linked to[BCOLOR=rgba(0, 0, 0, 0.2)] the closure of Super Cubes Purees in Woolworths (WOW)[/BCOLOR].
Commenting on the results, Keytone Dairy CEO Danny Rotman said overall the business was progressing well.
“The business continues to accelerate and we are witnessing strong sales momentum and demand from our clients,” Mr Rotman said.
“We are expecting the second half of FY22 to be very strong given the existing sales pipeline and with the key New South Wales and Victorian states emerging from prolonged lockdowns.
“The bar line commenced operations through the month of September and production from this plant will grow significantly through the following quarter with a strong sales pipeline, strong demand and multi-million dollar confirmed purchase orders.”
KTD Price at posting:
12.3¢ Sentiment: Buy Disclosure: Held
