NZ sheep & beef farm profits forecast to slip as expenses rise

Thu, 13 Sep 2018

By Tina Morrison Sept. 14 (BusinessDesk) - New Zealand sheep and beef farm profits are expected to decline in the coming year as higher spending outweighs a lift in revenue from the products they sell. The average farm is expected to earn a pre-tax profit of $129,700 in the June 2019 year, down 2.8 percent from a pre-tax profit of $133,500 in the 2017/18 year, according to industry group Beef+Lamb New Zealand. Beef+Lamb forecasts farm revenue will lift 0.7 percent to $545,900 in the coming year, driven by increased revenue from sheep....

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