SYDNEY Feb 28 Australia's Warrnambool Cheese
and Butter Factory Holdings Co reported a doubling in
first-half profits on Friday, a step towards justifying the rich
bidding war that left Canada's Saputo Inc owning almost
90 percent of the company.
Warrnambool said earnings before interest, tax and
depreciation and amortisation (EBITDA) in the six months to Dec.
31 was A$59.2 million ($53 million) amid strong international
dairy demand and pricing, compared with A$29.3 million in the
previous corresponding half.
The result was in line with the increase in profits the
company flagged in December and said the outlook for the rest of
the year remained positive.
Saputo beat out two Australian rivals, Bega Cheese Ltd
and Murray Goulburn Co-operative Co Ltd to claim
majority ownership of Warrnambool in January after the fiercest
bidding war in Australia in years.