Silver Fern Farms says profit wiped out in 2016

Tue, 19 Jul 2016

By Edwin Mitson July 19 (BusinessDesk) - Silver Fern Farms, the country's largest meat processor, has warned farmer shareholders that it now expects to only break-even in the current financial year, down from a pre-tax profit of $27.16 million in the previous year. It had earlier warned in April that profits would be "materially below" 2015. Silver Fern Farms' financial year runs to the end of September. The Dunedin-based meat company has agreed to sell a controlling stake to China's Shanghai Maling Aquarius, but the deal is still be...

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