Blue Sky turns to FY loss as export prices tumble while procurement battle keeps schedules high

Fri, 13 Jul 2012

By Jonathan Underhill July 13 (BusinessDesk) - Blue Sky Meats, the Invercargill-based meat processor, turned to a full-year loss after export prices plummeted in the second half, squeezing margins for companies who started the season with ‘unrealistic’ opening schedules for lamb. The net loss was $449,149 in the 12 months ended March 31, from a profit of about $3.69 million a year earlier, the company said in a statement to Unlisted, the platform where its shares trade. Sales rose about 13 percent to $114.2 million while expenses climbed 22 p...

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