Silver Fern Farms profits jump on back of strong Chinese demand
Meat processor Silver Fern Farms Limited has reported an after tax profit of almost $71 million for the 2019 financial year, it’s strongest annual result in more than a decade.
Silver Fern Farms Co-operative, which owns half of SFF Ltd, reported an after tax profit of $34.9m for the financial year.
Co-op chairman Richard Young said the results provided stability for both the co-op and the operating company.
“The co-operative is in a strong position with no debt. Whilst this was achieved last year, we now have a strong platform to weather a period where our country and the world is in a period of considerable economic uncertainty,” he said.
SFF Ltd chief executive Simon Limmer said the company’s 2019 performance was positive, given the new operating environment.
“While global market conditions and domestic challenges move by the day in 2020, our achievements in 2019 set us up well to meet today’s challenges.”
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