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...

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