Simplot-Australia is headed for a net profit of A$7 million in 2000-2001. It will mark the second year of profit after four years of losses when it bought some of Australia's best-known brands from Pacific Dunlop for A$500 million.
Managing Director Chris Miller said more work was required to improve performance. Simplot had cut its product lines by about 25 percent in the past 30 months but sales revenue in the year to Aug. 30, 2001, is expected to reach more than A$700 million.
Miller said Simplot-Australia now is in a position to make acquisition of between A$50 to A$100 million.
Simplot-Australia operates nine food plants across the country.