MD Foods has reported a profit of $87.8 million for the 1997/98 financial year, 20% down on the previous year. Turnover rose only slightly, from $3.76 billion.
The company said it found the result satisfactory, but expressed disappointment at the performance of some of its subsidiaries. On the bright side, MD’s UK operation, which has struggled in the past, turned in a profit.
Meanwhile, MD has been named Best FMCG Manufacturer at the recent 1998 Awards for Excellence in Supply Chain Management.