Alliance lifts annual earnings 28% as sharper operations offset strong kiwi, weak prices

Thu, 10 Nov 2016

By Paul McBeth Nov. 11 (BusinessDesk) - Alliance Group, New Zealand's second-largest meat cooperative, boosted annual earnings 28 percent as plans to overhaul the business reducing debt and automating processing cut costs, more than offsetting weak meat prices and a strong kiwi dollar eroding revenue. Pre-tax profit rose to $10.1 million in the year ended Sept. 30 from $7.9 million a year earlier, the Invercargill-based company said in a statement. Revenue fell to $1.36 billion from $1.49 billion a year earlier, though plans to improve th...

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