Allied Farmers first-half profit drops 71%; slower livestock sales expected to persist

Wed, 21 Feb 2018

By Paul McBeth Feb. 22 (BusinessDesk) - Allied Farmers posted a 71 percent drop in first-half profit and said slower livestock sales in the immediate wake of a dairy price recovery that contributed to the decline are likely to persist. Net profit attributable to shareholders fell to $83,000, or 0.05 cents per share, in the six months ended Dec. 31, from $281,000, or 0.17 cents, a year earlier, the Hawera-based company said yesterday. Revenue rose 6.6 percent to $10 million while the addition of new livestock agents to expand that busines...

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