Alliance Group plunges deeper into the red

Alliance's soon-to-be closed Smithfield site. (Image: Supplied)

Tue, 19 Nov 2024

Alliance Group has plunged deeper into the red; however, it is forecasted to be profitable in the year ahead.The farmer-owned processor reported an after-tax loss of $95.8 million for the year ending Sept 30, compared to a loss of $70.2m in the year prior.Turnover slipped to $1.8 billion, down from $2b in 2023.The loss included one-off post-tax costs of $48.2m related to business restructuring and other one-off adjustments, including the costs associated with plant rationalisation and redundancies following the closure of the company&rsquo...

Subscribe to BusinessDesk

Unlock access to all stories with this special annual deal for just $99. Sale ends Monday 25 November 2024 11.59pm.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Subscription renews at $349. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Technology

Dawn Aerospace to start commercial operations

The first customer will fly cameras to the edge of space to check on satellite health.

Greg Hurrell 12:18pm

Infrastructure

Napier Port profits up 50% as headwinds ease

Volumes are rebounding after Gabrielle but exporters still face challenges.

Gregor Thompson 12:00pm

Napier Port profits up 50% as headwinds ease

Retail

Foodstuffs to appeal supermarket merger ban

Foodstuffs argues the two co-operatives are serving different geographic markets.

Staff reporters 11:20am

Foodstuffs to appeal supermarket merger ban

Sponsored

Culture strengthens Māori business

Collaboration and culture offer strength in turbulent times.

BDO

Sponsored

Why large format retail may be about to have a moment

LFR offers regular returns with strong tenants and long leases.

PMG

More Primary Sector

Primary Sector

McBride conscious about Fonterra board succession

The board reduced in size after last week's annual meeting.

Riley Kennedy 5:00am

Primary Sector

Former Zespri chief appointed to a2 Milk board

Former Zespri chief executive Lain Jager has been appointed to a2 Milk's board.a2 Milk told the New Zealand Exchange (NZX) Monday that Jager will be an independent director and a member of the board’s people and remuneration committee.Before stepping down in 2017, Jager serve...

Staff reporters 18 Nov 2024