It was a profit, but, as Alliance chairman Murray Taggart told me, “we don’t budget to make $8 million on turnover of $1.8 billion.” The just announced 2018 result compared with the previous year’s operating profit of $20.2 million, although after pool payments the 2017 profit was only 11% higher than the latest year. (more…)
Posts Tagged ‘Murray Taggart’
Alliance puts positive spin on disappointing result
December 7, 2018Time to walk the talk
September 15, 2017There are large operators, small suppliers, traders and third party agents and, in times of tight livestock supply, the lines between them start to get a bit blurred and the classifications move around, depending on who is making the judgement. (more…)
Alliance in good shape
November 12, 2016Alliance has produced a solid result for the year ended 30 September with a pre-tax profit of $10.1 million compared with $7.9 million for the previous year achieved on 9% lower revenue of $1.366 billion. Of greater significance to farmers is the decision to distribute $9.8 million to shareholders, while the company’s equity position has improved from 58% of assets to 72%. Debt reduced from $129 million to $41 million with no seasonal debt at year end. (more…)
Alliance enforces shareholding commitment to match supply
February 16, 2016After many years competing for livestock without compelling suppliers to invest in the full number of shares required in principle, Alliance Group has seized the opportunity offered by Silver Fern Farms’ likely shareholding change to review its capital base. (more…)
Season has contrasting impact on Silver Fern Farms and Alliance
November 29, 2015The two biggest meat processors had contrasting experiences during the 2015 season to judge by their annual results and accompanying comments. There is no doubt Silver Fern Farms found life easier than Alliance, with respect to the year in question. SFF must also have heaved an enormous sigh of relief after its improvement from the previous three years. (more…)
Democracy, apathy or revolution
August 19, 2015MIE has to be given credit for its persistence with its campaign to persuade Silver Fern Farms and Alliance to look seriously at the benefits of merging as opposed to continuing to beat their respective heads against the brick wall of competition. But the outcome depends on several planets aligning at the same time. (more…)
Silver Fern Farms forecasts positive result for the year
July 25, 2015A note to shareholders last week updated the company’s position after 9 months and predicted a substantial improvement on last year. Gains have occurred across the board with sales up 8.6% or $150 million, debt $100 million lower and improved inventory turnover. (more…)
MIE plan stimulates debate but won’t fix the problem
April 1, 2015The Pathways to Long-Term Sustainability document launched earlier this month makes some very valid points about the red meat industry’s shortcomings, but its recommendations are almost certainly impossible to implement. (more…)
Plenty of interest in moratorium proposal
December 6, 2014Although not all parties are in favour of it, the proposed moratorium on chain and plant licences has provoked a lot of debate and reaction from all parts of the red meat sector. (more…)