April 9, 2007

 

Australia's CBH reports US$87.3m surplus

 

 

West Perth-based grain transport giant CBH Group has unveiled a more than 40 percent rise in its after tax profitability, with the cooperative reporting a surplus of US$87.3 million.

 

This was an increase on last year's after-tax surplus of US$61.1 million.

 

CBH said its group assets were now 1.2 billion.

 

CBH Group Chief Executive Officer, Imre Mencshelyi the performance of the company's Asian flour mill investment continues to improve.

 

Mencshelyi said the CBH Group was aware of the need to carefully manage the business to minimise the long-term impacts of the current drought.

 

Mencshelyi also promised that the company would continue to focus on value to ensure that the Group could respond to any situation or opportunity in a way that best serves the growers of Western Australia.

 

The company is currently focused on enhancing the value in its storage and handling, marketing, and processing operations.

 

Mencshelyi said it was important to realise that the value chain strategy has not diverted the company's attention from its core business of storage and handling.

 

Since 1999, the CBH Group has made some US$393 million in profit.

 

In that time, it reinvested some US$450 million into its receivals network.