Every season is different and brings different challenges, and this year they are battling Omicron in plants. While the animals are still there, it will be a longer season and some plants may not have had the efficiencies of the "peak" processing through late summer/autumn, with the higher costs of staffing and Covid.
However, it is another year just gone of very good profits, and once again only a portion of that profit paid out. Another year of "runs on the board" that helps underpin its investment credentials, and can make profits in different circumstances - albeit with record high prices for many products, it does give a signifcant tail wind. This can change in an instance, especially with China, but the world seems to be a different place these days. Much better performance than Alliance (100% Coop) and also Anzco (Private), albeit with different FY timings.
Great also for supplier shareholders, which just helps cement that supply a little more, and makes it more attractive for new suppliers. But those shareholders, getting 12.9+12.1 cps = 25 cps, then the share price almost doubling in the last 12 months (84c to $1.60). That is over $1 per share in the last 12 months!
Much of the profit has been retained in the business (and Coop) which will see it well placed for the further. Another $60m in capital expendiure - and I am always interested in how much is for BAU or compliance, and how much is for further profits and returns. But in the meantime, just looking forward to the divvy.....:)