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. Last Updated: 07/27/2016

Dairy Firm Shrugs Off Milk Woes

The country's top dairy produce firm, Wimm-Bill-Dann, on Friday beat forecasts with a 22.7 percent rise in third-quarter net profit despite a surge in raw-milk costs and showed strong sales growth across all segments.

WBD said net profit was $39.8 million, compared with $32.4 million in the third quarter of 2006.

Sales rose 39.1 percent to $610.5 million from $439 million a year ago, beating a consensus view of $607.4 million.

"We are very pleased with the strong results we achieved for the first nine months of 2007, especially in the most challenging raw material cost environment," CEO Tony Maher said. "Despite a sharp rise in raw milk prices, we continued to improve our EBITDA margin to 13.5 percent in the third quarter ... compared with 12.7 percent in the second quarter."