TasFoods Limitedhas taken a big step towards profitability.
The Launceston-based agribusiness reported earnings before interest, tax, depreciation and amortisation of negative $299,000 for the first half of 2021.
That was a vast improvement compared with negative $6 million for the corresponding period a year earlier.
The company's key dairy and poultry divisions both made significant positive contributions, of $1.088 million and $852,000 respectively.
The poultry division continues to show a stable recovery from the COVID-19-influenced market volatility ...TasFoods
TasFoods said the dairy division "continued to reinforce its position as a key pillar of profitability".
Divisional highlights included extended distribution of two Meander Valley Dairy branded cream products into national independent retail and a three-year contract with a milk supplier to increase supply for Pyengana branded dairy products by 21 per cent.
Two lactose-free Betta Milk products were launched into Coles supermarkets and independent retail in Tasmania and two Betta Milk flavoured milk products were ranged in Tasmanian Coles stores.
"The poultry division continues to show a stable recovery from the COVID-19-influenced market volatility experienced in financial year 2020," TasFoods said in a business activity report.
It said there was a continued focus on value-add, new product development and a range of ready to cook kebabs was launched.
A range of ready to cook curry packs would be released in the current half-year.
Construction of an organic free-range chicken farm started, with supply to the market expected from September.