Silver Fern Farms defers spending to cope through tough year
New Zealand's largest meat processor saw a $24.4 million loss and increased debt, with increased supply dynamics and pricing pressures stemming from competitors in Australia and South America.
The agriculture sector is starting to see a bounce back in dairy prices.
Loss: Silver Fern Farms had a net loss of $24.4m and its parent entity, Silver Fern Farms Co-operative, had a $10.7m loss after tax.
Main takeaway: Silver Fern Farms has seen revenue and profit dip, with depressed consumer confidence across key markets.
New Zealand's largest meat processing and marketing conglomerate Silver Fern Farms Co-operative reported a loss after tax of $10.8 million for the 12 months to December 31, a 111% decrease from its $94.1m 2022 result.
The company previewed its full-year results for 2023 early last month, revealing a
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