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

Stay informed on business, government and financial developments across New Zealand.

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.
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 }}

Markets Market close

NZ sharemarket down 0.3% on quiet day

The S&P/NZX 50 Index closed at 13,088.31, down 42.12 points or 0.32%.

Graham Skellern 20 Jan 2025

Markets

City Developments wants the rest of MCK

It has offered $2.25 per share for the 24% stake.

Riley Kennedy 20 Jan 2025

Cryptocurrency

Trump launches his own meme coin, value soars

Meme coins have no economic or transactional value.

AFP 20 Jan 2025

Trump launches his own meme coin, value soars

Sponsored

Shining bright: Why gold matters today

The “great wealth store” remains a smart portfolio choice in 2025.

Smart

Sponsored

Why Kiwis are embracing Bitcoin ETFs

The once hard-to-access investment option is becoming mainstream.

Smart

More Primary Sector

Primary Sector

Scott Sherriff takes over as New Image Group MD

Former Aroa Biosurgery chief operating officer Scott Sherriff has been appointed managing director of New Image Group.Sherriff takes over from Alan Stewart, who will continue to serve as a director and deputy chair of the group. As well as leading the group’s day-to-day operation...

Riley Kennedy 20 Jan 2025