Tuesday, 27 September 2011
Another Record Breaking Year for Beelgara Estate
Beelgara Estate winery's Managing Director, Peter Toohey, has announced that the Australian winemaker has just recorded an increase on last year's record profit. "We are extremely proud of our 2011 results which follow on from an excellent profit result last year".
Beelgara is one of the top twenty wineries in Australia and has just been awarded a prestigious five star rating from the renowned wine writer, James Halliday. This effectively ranks it amongst the elite of premium Australian winemakers.
Beelgara's EBITDA for the 2011 fiscal year was circa $2.1 million, in line with the previous years results, with before tax profit up by 11% on net sales. Revenue came in at circa $16 million for the year. "The most pleasing aspect of last year's results," Mr Toohey said, "was that in a year of worsening market conditions internationally, we were able to improve our overall profit position."
Beelgara has just signaled that the budgeted 2012 fiscal years profit before tax is projected to rise by 10% on prior year , a bold prediction, but one the management team is confident of delivering.
Experts believe that the industry has passed the bottom of its cycle and that there will be gradual improvements in the sector moving ahead. Against this backdrop of industry sentiment, Beelgara has signaled that it is in merger and acquisition mode after its purchase of the iconic Cockatoo Ridge wine brand late last year. "Beelgara has a strong balance sheet, with minimum debt and a positive cash flow, which we intend to use to secure further acquisitions", Mr Toohey said.
Mr. Toohey has signaled a period of expansion through merger and acquisitions to further broaden Beelgara's sales base while releasing economies through amortising surplus capacity in its 15,000 tone facility as well as having the potential to significantly increase the profit line through acquisitional cost savings.