Simplot Australia triples annual profit

Simplot Australia, maker of the iconic chiko roll as well as brands such as John West and Bird’s Eye, has made an annual profit of $91 million.

The SMH reports that, according to financial accounts filed with the Australian corporate regulator, the company tripled its net profit after tax from $33.2 million in 2014.

The positive result can be put down to the drop in the Australian dollar as well as cost cutting measures taken by the company. For example, Simplot cut about 200 jobs from its plants in Bathurst and Devonport back in 2013.

Simplot Australia managing director Terry O'Brien told Fairfax the company’s best performers were vegetable brands Birds Eye and Edgell, and canned fish brand John West.