Blue Sky Meats annual profit sinks 36%, under-used plant blamed

Sun, 28 Jun 2015

By Fiona Rotherham June 29 (BusinessDesk) - Blue Sky Meats, whose shares trade on the Unlisted platform, reported a 36 percent slide in annual profit, which it blamed on the under-utilisation of its processing facilities. Net profit fell to $1.2 million in the year ended March 31, from $1.9 million a year earlier, the Southland-based company said in a statement. Blue Sky, which processes sheep, cattle, goats and deer, reported a 7.2 percent increase in revenue to $102.1 million. Chairman Graham Cooney said the result wasn’t as good as...

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