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Greener pastures for Alliance

By Phil Boeyen, ShareChat Business News Editor

Thursday 9th November 2000

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Meat processor Alliance Group has turned in a $17 million bottom-line for the year ended September, up considerably on last year's $2 million result.

Chairman, John Turner, says the company had a positive financial year following good lambing last year, favourable climatic conditions, better export prices and a lower dollar.

Sales for the year rose to $920 million compared with $823 million in 1999. Operating profit before pool distributions and other items was $46.5 million, up considerably on last year's $31 million.

Alliance CEO, Owen Poole, says there has been an unprecedented level of change in the company in the past 12 months, including building a new plant at Nelson, merging the work forces at the Lorneville and Makarewa plants, and consolidating beef processing at Mataura.

Mr Poole says the outlook for 2000-2001 remains positive, and the value of the New Zealand dollar against our trading partners would be a factor in the new season's returns to producers.

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