Alliance Group doubles annual earnings as meat prices recover, targets fatter profitability

Alliance Group doubles annual earnings as meat prices recover, targets fatter profitability
Paul McBeth
By Paul McBeth Nov. 24 (BusinessDesk) - Alliance Group, the world's biggest sheepmeat exporter, doubled annual earnings as its sales rose 15 percent with a recovery in global meat prices, but wants to lift profitability further.  Operating earnings rose to $20.2 million in the year ended Sept. 30 from $10.1 million a year earlier, the Invercargill-based company said in a statement. It paid $11.4 million to its 5,000 farmer shareholders, up from $9.8 million, while revenue rose to $1.53 billion from $1.36 billion.  "We are welcoming new...