Alliance Group annual profit rises 11% on demand for red meat, higher prices

Thu, 06 Nov 2014

By Tina Morrison Nov. 7 (BusinessDesk) - Alliance Group, the world's largest processor and exporter of sheepmeat, posted an 11 percent rise in annual profit and is distributing $7 million to its supplier shareholders, the first payout in three years. The Invercargill-based, farmer-owned cooperative increased its after-tax profit to $6.2 million in the year ended Sept. 30, from $5.6 million a year earlier, it said in a statement. Revenue rose to $1.46 billion from $1.38 billion the previous year, it said. Alliance is benefiting from buo...

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