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Genetics Australia records profit leap

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Genetics Australia Co-operative Ltd has recorded a $1 million increase in sales revenue and an after tax profit of $545,000, reflecting improved weather and industry conditions.

The 2019-20 annual report shows a profit $300,000 higher than the previous year, while sales revenue grew by more than $1 million to $10,771,972 with a total comprehensive income of $2,625,991.

The co-operative has a net asset base of $13,508,398 which is an increase of $2,631,897 on 2018-19.

Genetics Australia chief executive officer Anthony Shelly and board chairman Trevor Henry said the positive result reflected the improved weather and industry conditions that were widely experienced in the dairy industry.

“While we…



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