Posts Tagged ‘Meat company 2008 results’

Meat company results impressive, but hard to maintain

December 8, 2008

The 2008 season’s meat company profits all follow a consistent pattern, with AFFCO’s result released last Thursday confirming what Silver Fern Farms (SFF) and Alliance had already shown. It was a year for the processors to recover from the trauma of 2007 and reintroduce some strength to their respective balance sheets.

 

But as with all annual results, the period they cover has passed and, apart from the beneficial effects of higher levels of equity, what happened last year is already ancient history. The world has changed beyond recognition in the two months since the end of last season. The only market that retains recognisable shape is the European pre-Christmas chilled lamb trade, but nobody knows how well the retailers’ business will hold up. (more…)