UPDATE: Silver Fern Farms profit unsatisfactory, but promises more to come

Wed, 24 Dec 2014

(Updates with chairman comment) Dec. 24 (BusinessDesk) - By Fiona Rotherham Silver Fern Farms, New Zealand’s biggest meat processor and marketer, has returned to profit after two years of losses but admits it still needs to deliver more. Net profit after tax was $500,000 in the year ended Sept. 30, a significant turnaround from the $28.6 million after tax loss the previous year while pre-tax profit was $1.8 million compared to a loss of $36.5 million in 2013, the Dunedin-based cooperative said in a statement. Over the same period th...

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