29 May 2009

Meat company announces pre-tax profit of $22m for half year

5:35 am on 29 May 2009

AFFCO has recorded a net profit before tax of almost $22 million for the six months to March this year - an improvement of nearly $12 million on the same time last year.

The meat company also recorded an $85 million increase in sales. Total revenue was $588 million.

The company says the increase in turnover and profitability is a reflection of higher market returns, and an improved operational performance.

While the worldwide financial situation remains uncertain and turbulent, AFFCO maintains it is important to maintain a strong balance sheet.