Central Plains Water sees more years of losses driven by depreciation on irrigation

Fri, 29 Sep 2017

By Jonathan Underhill Sept. 29 (BusinessDesk) - Central Plains Water, a company set up to irrigate farmland in Canterbury, said it will continue to record losses in its annual accounts because of the steep depreciation charges during the early years of operation. The company, whose shareholders are participating farmers and include owners such as Hong Kong-based An Feng Dairy and Fonterra Cooperative Group, reported a loss of $8.4 million in the year to June, narrower than last year's $10.7 million loss. Central Plains had $20.3 million o...

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