Total
0
Shares
Keytone Dairy (ASX:KTD) - CEO, Danny Rotman
CEO, Danny Rotman
Sourced: Keytone Dairy
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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 is trading up 2.08 per cent at 12.3 cents per share at 12:32 pm AEDT

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 softened considerably due to lockdowns in Australia’s east coast.

Brands sales fell 34 per cent over the September quarter, with the drop also linked to the closure of Super Cubes Purees in Woolworths (WOW).

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.”

Keytone Dairy was trading up 2.08 per cent at 12.3 cents per share at 12:32 pm AEDT.

KTD by the numbers
More From The Market Herald

" Jatcorp (ASX:JAT) subsidiary signs dairy deal as Shanghai store opens

Jatcorp’s (JAT) subsidiary has signed a three-year deal to produce dairy products, with revenue expected to total $10 million in the first year
Experience Co (ASX:EXP)

" Experience Co (ASX:EXP) acquires Trees Adventures and Maria Island Walk

Adventure tourism business, Experience Co (EXP) has announced the completion of its acquisitions of Trees Adventure and the Maria Island Walk.