Ingham's sees New Zealand's chicken glut persisting

Tue, 14 Feb 2017

By Paul McBeth Feb. 15 (BusinessDesk) - Ingham's Group expects New Zealand's oversupply of chicken to continue this year, keeping prices cheap and crimping the trans-Tasman poultry producer's local earnings. The Sydney-based company's Kiwi division accounts for about 15 percent of the ASX-listed firm's revenue, and like its rival, Tegel Group Holdings, had to contend with low domestic prices with chicken supply outstripping demand. Ingham's New Zealand earnings before interest, tax, depreciation and amortisation fell 5.8 percent to A$17....

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