NEW ZEALAND, Invercargill. Alliance Group announced a profit before tax and distribution of $20.7 mill. and a $9 mill. profit distribution to shareholders. The 100% farmer-owned co-operative recorded a turnover of $1.7 bill. for the year ending 30 September 2019 and paid farmers a record amount for their livestock over the course of the year. The balance sheet and shareholders’ equity (63%) remains strong.
Murray Taggart, chair of Alliance Group, said the increase in profit ($ 10 mill. 2018) was pleasing and reflected the co-operative’s drive to maximise operational efficiency and focus on capturing greater market value. There was also strong growth for Alliance Group in the global food service sector, he said.
Alliance Group has also been investing in its people with plant training and supervisory programmes for almost 2,000 people. The co-operative remained focused on improving its safety performance, said Surveyor. “This year, we significantly stepped up our work on critical risks, the safety issues which may result in serious injuries. We invested in five key areas, ammonia, asbestos, traffic management, energy isolation and machine guarding. We also completed our programme to replace and upgrade all of our bands with the new Blade Stop technology, which significantly reduces the risk of serious injuries for our people.”