Allied Farmers posts 1H profit, says uncertain dairy sales may weigh on 2H

Thu, 26 Feb 2015

By Suze Metherell Feb. 27 (BusinessDesk) - Allied Farmers, which is rebuilding after taking over the failed Hanover and United Finance loan books, turned to a profit in the first-half as its livestock division exceeded expectations but flagged second half sales may be weaker because of uncertainty around the dairy payout. The Hawera-based company posted a profit of $907,000 in the six months ended Dec. 31, from a loss of $468,000 a year earlier, it said in statement. Sales rose 11 percent to $10.1 million. Its livestock division booste...

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