Profit of $5.6m for Alliance Group

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Alliance Group made a net after-tax profit of $5.6 million for the year ending September 30.

The result came after providing for restructuring costs of $2.5m and tax of $2.8m from a turnover of $1.4 billion for the year ending September 30, 2013.

The sheepmeat exporter which operates the Alliance Pukeuri plant would not be deliver distributions to its 5000 farmer shareholders for the second year in a row.

However, group chairman Murray Taggart, said the return to profitability was a satisfactory result.

 

By CHRIS TOBIN