Landcorp posts weaker 1H earnings as adverse climate crimps production, hikes costs

Tina Morrison
Sun, 04 Mar 2018

By Tina Morrison March 5 (BusinessDesk) - Landcorp Farming, the state-owned farmer, reported weaker earnings in the first half of its financial year as adverse weather crimped milk production and lifted the amount spent on extra feed for livestock. The Wellington-based company posted a $6 million loss in earnings before interest, tax, depreciation amortisation and revaluations in the six months ended Dec. 31, 2017, from a profit of $6.9 million in the year earlier period, it said in a statement. It forecast ebitdar of between $33 million...

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