News: Warrnambool more than doubles FY profit

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Warrnambool Cheese & Butter Factory Company (ASX:WCB) has more than doubled its annual profit to $18.5 million, from $8.8 million the year before.



The dairy processor has attributed the result to higher global dairy prices, helping to offset a stronger Australian dollar.



However, CEO David Lord has warned that dairy prices are likely to remain at a high level and will therefore be unlikely to offset the rising dollar in the future.



In the 2011 financial year revenue increased 21 per cent to $504 million. 



A fully franked dividend of 11 cents per share has been declared.