New Zealand meat producer’s profits jump by 77%
10/11/2001
New Zealand’s largest meat company, Richmond, has posted a 77% hike in before-tax profits to NZ$20.65 million in the year to September.
The company, which recently acquired Lowe Walker and was itself effectively taken over during the summer by the southern meat cooperative PPCS, recorded the figures on the back of sales of NZ$1.42 billion, while exceeding a February profit forecast of a NZ$19.37 million. This compares to net profits of NZ$11.65 million the previous year on sales of NZ$1.13 billion.
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