Alliance annual profit falls 25% as strong global supply saps sheepmeat prices

Sophie Boot
Thu, 12 Nov 2015

By Sophie Boot Nov. 12 (BusinessDesk) - Alliance Group, the world's largest processor and exporter of sheepmeat, reported a 25 percent drop in annual profit as the company competed more aggressively in export markets that were flooded with local product. Net profit fell to $4.6 million in the year ended Sept. 30, from $6.2 million a year earlier, the Invercargill-based cooperative said in a statement. Turnover rose to $1.49 billion from $1.45 billion a year earlier. The company said it had lost between 20 percent and 25 percent of its Chi...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Election 2020
ELECTION 2020: Labour needs Greens on latest One News poll
Pattrick Smellie | Mon, 28 Sep 2020

Labour needs the Greens to govern in the latest One News-Colmar Brunton poll, with the gap closing with National. NZ First hits a new low.

MARKET CLOSE: Shares flat as utilities soar while A2 plunges
Dan Brunskill | Mon, 28 Sep 2020

Shares flatlined as sharp drop from A2 Milk was cancelled out by a rally in electricity stocks.

Ports of Auckland cuts dividend by three-quarters
Brent Melville | Mon, 28 Sep 2020

Ports of Auckland is delivering a smaller return to council as it deals with the impacts of the pandemic. 

Partner Content
The whole story behind good investment decisions

If there was ever a time when strong financial metrics were the single trademark of a good company, that time has long passed. Responsible investors need to know beyond the profit a company will generate this year or next.

Canon Business: Premium solutions for Commercial Bay

Precinct Properties is the largest owner and developer of premium inner-city business space in Auckland and Wellington, its latest flagship success is the transformational Commercial Bay on Auckland's waterfront. Canon knew that for such a high-calibre client, only a premium bespoke purpose-built solution would suffice when it came to providing market-leading print, mail and courier services to over 10,000 tenants in the development.