Cerebos Pacific today says it posted a 26% rise in 4th quarter FY2008/9 net profit to $25.1 million from $19.8 million in the 4th quarter of last year. Operating profit before interest and tax was 10% above the 4th quarter of last year, mainly from stronger sales in most product categories in most of its major markets.

For the full year FY2008/9, Cerebos achieved a net profit of $82.8 million ($81 million in FY2007/8) on level turnover of $775.2 million. Excluding the translation loss of $59.9 million, the growth in full-year turnover would have been 8%, driven by the growth from all three core businesses of Health Supplements, Coffee and Sauces. Group operating profit was 4% lower than the previous year. Excluding the translation loss of $4 million, Operating Profit would have been on par with last year. Return on shareholders’ funds was a respectable 22.8%.

Overall, Cerebos Pacific says the full-year results were dampened by weaker performance in the 2nd and 3rd quarters, due to the economic and financial crisis, exchange rate movement and a US product recall.

For the full year, excluding the translation loss of $60.5 million, Australasia turnover would have been 11% above last year. Australasia’s lower operating profit was mainly due to the weakening of the Australian and New Zealand currencies on foreign currency purchases.

For Asia, full-year top line growth was led by Thailand, Taiwan, Malaysia and Singapore driven by investments in brand building. Excluding the translation gain of $0.6 million, turnover would have been 6% above last year. Excluding the exchange loss of $1.8 million, Asia’s operating profit growth in the health supplement business would have been 1% above last year.

Cerebos’ board of directors is recommending a first and final dividend of 6 cents per share, tax exempt one-tier. (First & final 6 cents per share; tax exempt one-tier in FY2007/8).

The board is also recommending a bonus dividend of 19 cents per share; tax exempt one-tier. (FY2007/8: 19 cents; tax exempt one- tier).

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