Bega Cheese has posted a 69% fall in full-year statutory profit after tax to $24.2 million.
The Vegemite-owner said the result included a number of non-recurring items primarily related to acquisition and integration costs, partially offset by income from the early termination of two contracts with Reckitt.
?The benefit of increased consumer prices has started to flow through in FY23 across all channels and product categories with the full impact to be felt in FY24?, said CEO Paul van Heerwaarden.
The company declared a total dividend of 11 cents per share in FY22, and also managed to pay down $60 million in debt.
Shares in Bega surged 6.55% higher following the announcement.