Pork producer stays the course

Private agribusiness Westpork recorded a slight uptick in revenue and a small dip in profit to $11.6 million in the 2021 financial year, according to documents it lodged with the corporate watchdog.

The documents show increasing costs of inputs and a decrease in the value of its pig inventory caused profit to decrease slightly to $11.6 million in 2021 from $12.5 million in 2020.

Production costs rose from $64.4 million in 2020 to $66.5 million in 2021.

Its revenue hit $110 million, up from $105 million previously.

These numbers are much higher than in 2019, when it recorded revenue of $72.1 million.

It was able to share its profits with shareholders, offering quarterly dividends between 30 cents and 53 cents per share.

The group said it was not aware of any material adverse effects on its financials due to the COVID-19 pandemic.