CORRECT: Silver Fern Farms back in black after Shanghai Maling deal; Cooperative in the red

Mon, 02 Apr 2018

(Fixes chair's name in 4th, 8th paragraphs) By Paul McBeth April 3 (BusinessDesk) - Silver Fern Farms returned to profit last year as a capital injection from China's Shanghai Maling trimmed the meat processor's finance costs and global beef prices rebounded, although its cooperative shareholder posted a loss from the new structure. The Dunedin-based company reported a profit of $15.4 million in calendar 2017, turning around a loss of $30.6 million a year earlier, with sales rising to $2.2 billion from $2.15 billion in 2016, it said i...

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