Allied Farmers narrows first-half loss as livestock unit turns profitable

Fri, 28 Feb 2014

By Paul McBeth Feb 28 (BusinessDesk) - Allied Farmers, which is slowly rebuilding from a disastrous takeover of the Hanover and United Finance loan books, narrowed its first-half loss as its livestock unit returned to profit, and is mulling ways to pay debt owing to Crown Asset Management. The Hawera-based company made a loss of $468,000 in the six months ended Dec 31 from a loss of $2.47 million a year earlier, it said in a statement. Its livestock unit, which generated almost all of its revenue, made a profit of $315,000 from a loss of $79...

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