Silver Fern Farms returns to profit and considers $100 mln fundraising

Tue, 23 Dec 2014

By Fiona Rotherham Dec. 24 (BusinessDesk) - Silver Fern Farms, New Zealand’s biggest meat processor and marketer, has returned to profit after two years of losses while it considers raising around $100 million in new equity next year to repay debt. Net profit was $1.8 million in the year ended Sept. 30, compared to a loss of $28.6 million a year earlier, and in line with guidance it issued at the end of October, the Dunedin-based cooperative said in a statement. Over the same period the company paid down $99 million in debt as part of a p...

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