Open Country delivers record profit, sees greater stability ahead

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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