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

Paul McBeth
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...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Property
Precinct sees solid lease uplift, pays $8.3m in rent relief
Brent Melville | Thu, 18 Aug 2022

The listed property firm has seen its portfolio valuation climb by $400 million to $3.7 million.

Markets
Auckland Airport shares fall on weaker forward guidance
Dan Brunskill | Thu, 18 Aug 2022

Auckland Airport today said it expects profit to land somewhere between $50m and $100m, as travel in the Asia Pacific region recovers more slowly than in other parts of the world.

Finance
Kiwibank emphasises the 'Kiwi' as it posts record profit
Jenny Ruth | Thu, 18 Aug 2022

Kiwibank grew its business lending by three times the total bank lending growth in the year ended June.

Sponsored
In uncertain times, bricks and mortar hold steady

Can real estate provide a hedge against high inflation? Scott McKenzie, CEO of PMG Funds, talks about why tangible assets can be defensive and how PMG’s latest investment offer will help make the fund more resilient.

Sponsored
Communication the barrier to ‘human firewall’ technology

Communication is the barrier to New Zealand adopting the global Zero Trust cybersecurity strategy, says a new survey.