Ballance says no payout as commodity prices hit bottom line

Ballance says its margins have been squeezed. (Image: NZME)

Fri, 16 Aug 2024

Ballance Agri-Nutrients says a tough year means it will not be paying a rebate to its members.The farmer- and grower-owned co-operative said its accounts, which will be released on Monday, will show that lower commodity prices reduced revenue to $929 million, with a pre-tax profit of $17.2m.Last year, the co-op announced profit after tax of $35m, which incorporated a write-down of $51m on inventory. In the 2023 financial year, revenue was $1.22 billion.This year's reduced revenue also reflected decreased sales volumes of 1.16m tonnes. Balla...

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