Tegel says 2018 earnings to miss target on one-time costs, New Plymouth plant disruptions

Wed, 07 Mar 2018

By Jonathan Underhill March 8 (BusinessDesk) - Tegel Group, New Zealand's biggest poultry producer, said full-year profit may drop by as much as a fifth because of slower progress in Australia and one-time costs ranging from compliance rule changes to restructuring and disruptions to its New Plymouth processing plant. Chief executive Phil Hand said underlying earnings before interest, tax, depreciation and amortisation, excluding one-time costs, is expected to be in a range of $70 million to $72 million in the 2018 financial year from $72...

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