COBRAM Estate Olive’s pre-tax profit has jumped 75 per cent in the half-year to December compared with the previous year.
Investors were told on Friday the profit in the six-month trading period was $14.5 million with sales of Australian packaged goods up 20.4 per cent to $86.4 million and United States sales rising 18.5 per cent to $23.9 million.
CEOs Sam Beaton and Leandro Ravetti said sustained demand for the company’s  extra virgin olive oil and marketing initiatives led to robust sales growth and improved trading results.
They said the company anticipated continued growth in olive oil sales in the second half of this financial year.
“The growth in Australian packaged goods sales has been driven by improved product mix and higher margins across all packaged goods ranges, supported by continued strong customer demand,” they said.
This year is an “on” year for Cobram Estate’s Australian groves, including Boort, with latest assessment saying they will be harvested between April and June “expected to be materially larger than the 2024 Australian crop, subject to the uncertainties associated with farming”.
Cobram Estate’s Australian olive grove area will increase by 53 per cent over the next eight years. “Currently 35 per cent of the company’s total Australian plantings are not fully mature including 10 per cent  of total Australian plantings yet to produce a harvestable crop
A dividend of 3.3 cents will be paid, fully franked, compared with 70 per cent franking on last year’s final dividend.