Open Country delivers record profit, sees greater stability ahead

Fri, 21 Apr 2017

By Tina Morrison April 21 (BusinessDesk) - Open Country Dairy, New Zealand's second-largest milk processor, posted a record profit last year as it sold more high-value products and strengthened its balance sheet. Profit soared to $62 million in the year ended Sept. 30, 2016, from $34.4 million a year earlier, according to the Auckland-based company's annual report. Revenue and cost of sales both rose at a 17 percent rate to $818.8 million and $723 million respectively. Open Country, 76 percent owned by diversified agribusiness Talley's...

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