Allied Farmers posts 60% lift in full-year profit as livestock division outperforms

Tue, 29 Aug 2017

By Rebecca Howard Aug. 30 (BusinessDesk) - Rural services firm Allied Farmers reported a 60 percent lift in net profit on an improved result from its livestock division, particularly in the second half, and further cost reduction. The Hawera-based company said net profit was $2.2 million in the year ended June 30 versus $1.4 million in the prior year. Pretax earnings were up 52 percent to $2.4 million, which was ahead of the guidance it gave in June when it forecast a 40 percent gain. Its livestock division reported a 20 percent incre...

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