An outbreak of hepatitis A linked to packets of Nanna's frozen mixed berries and subsequent product recall has blown 88 per cent off Patties Foods' full year net profit. The frozen food and pie maker posted net profit of $2.1 million for the 12 months to June 30, compared with $16.7 million the previous year.
Chief executive Steven Chaur attributed the gains to the company's savoury business. He said the past 12 months had been "challenging", with Patties' battling "substantial increases" in beef prices as well as the berry recall.
"Despite these pressures, the company has proactively worked to help mitigate any long-term effects and focuses on driving its core savoury business, which continues to perform solidly and has gained profitable market share in all key channels".
Earnings per share were 1.5 cents, compared with 12 cents the previous year.
Patties will pay a final dividend of 5 cents a share, full franked on October 8. This compares with a payout of 3.9 cents a share in 2014.
Patties said it a statement it tests all its products and, as it announced in April, no traces of Hepatitis A or E.coli has been found across is Nana's and Creative Gourmet berry range.
"Patties Foods continues to actively participate in the frozen fruit category and as the Australian market slowly recovers, the company will monitor and review progress," the statement said.
