Allied Farmers 1H profit falls as it focuses on livestock services growth

Sun, 28 Feb 2016

By Sophie Boot Feb. 29 (BusinessDesk) - Allied Farmers reported a 32 percent drop in first-half profit as income from its shrinking asset management services segment plunged, while its livestock services segment increased sales. Net profit fell to $615,000 in the six months ended Dec. 31, from $907,000 a year earlier, the Hawera-based company said in a statement. Revenue rose 0.7 percent to $10.3 million. "This is a strong operating result, benefiting from the livestock division's trading performance, and does not have the benefit of t...

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