Weak prices put Tegel pretax earnings near bottom of revised guidance

Mon, 26 Jun 2017

By Jonathan Underhill June 27 (BusinessDesk) - Tegel Group, New Zealand's biggest poultry producer, posted a 0.8 percent gain in full-year pretax earnings as weaker pricing eroded the benefits of record sales. Underlying earnings before interest, tax, depreciation and amortisation rose to $75.6 million in the 53 weeks ended April 30, from $74.9 million in the year-earlier 52-week period, the Auckland-based company said in a statement. That's at the low end of the revised $75 million-to-$85 million forecast range the company gave in Decemb...

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