Annual Report - Bega Cheese

Financial Statements
Period Ended 30 June 2010
Statements of of Comprehensive Income
Statements of of Comprehensive Income Income
Consolidated
Company
2010 2009 2010 2009
Notes $'000 $'000 $'000 $'000
Revenue from continuing operations 3 829,029 797,939 564,793 503,695
Cost of sales (737,145) (727,346) (517,864) (456,674)
Gross profit 91,884 70,593 46,929 47,021
Other income 3 8,106 10,628 8,652 14,471
Distribution expense (24,016) (20,012) (13,056) (10,249)
Marketing expense (8,085) (7,509) (7,341) (6,255)
Occupancy expense (2,358) (2,878) (1,727) (1,804)
Administration expense (27,007) (23,125) (10,236) (10,997)
Finance costs 4 (10,120) (9,036) (6,689) (4,467)
Impairment of goodwill 12 - (3,615) - (3,615)
Discount on acquisition of business - 8,730 - 8,730
Profit before regional milk price premium 28,404 23,776 16,532 32,835
Regional milk price premium (6,605) (11,771) (6,605) (11,771)
Profit before income tax 21,799 12,005 9,927 21,064
Income tax benefit/(expense) 5 1,468 (1,705) (2,620) (3,587)
Profit for the year 23,267 10,300 7,307 17,477
Profit is attributable to:
Equity holders of Bega Cheese Limited 18,223 11,350 7,307 17,477
Non-controlling interests 5,044 (1,050) - -
23,267 10,300 7,307 17,477
Other comprehensive income
Cash flow hedges (3,300) (3,332) (242) (679)
Available for sale financial assets 98 - - -
Total other comprehensive income (3,202) (3,332) (242) (679)
Total comprehensive income for the year 20,065 6,968 7,065 16,798
Total comprehensive income for the year
is attributable to:
Equity holders of Bega Cheese Limited 15,909 8,814 7,065 16,798
Non-controlling interests 4,156 (1,846) - -
20,065 6,968 7,065 16,798
The above Statements of Comprehensive Income should be read in conjunction with the accompanying notes.
Bega Cheese Limited 2010 Annual Report 12