Silver Fern Farms turns to pretax profit, signals reorganisation as CEO steps down

Mon, 27 Oct 2014

By Tina Morrison Oct. 28 (BusinessDesk) - Silver Fern Farms turned to a pretax profit following losses the previous two years and signalled a reorganisation that may lead New Zealand's biggest meat processor and marketer to change its capital structure. The Dunedin-based meat company expects pretax earnings of $5 million to $7 million in the year ended Sept. 30, it said in a statement. It posted a pretax loss of $36.5 million in 2013 and a loss of $42.3 million in 2012. It didn't provide details of 2014 sales, and said it would release it...

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