MURRAY Goulburn co-operative has recorded an after tax profit for the first half of the financial year.
The company also disclosed milk intake was down by 29 per cent compared to the same period last year. The normalised after tax profit was $14.4 million, compared to $9.4 million in the first half of 2017. The company noted it had recorded a statutory net loss after tax of $27 million, taking into account adjustments related to the proposed sale to Saputo.
Net debt at the end of the first half of the year was $474 million, similar to the position at the end of the financial year.
The company expects to distribute its memorandum related to the Saputo offer in March or April, and is waiting on a decision by the ACCC.