2 Mar 2009

Half-year loss reported by Allied Farmers

8:50 am on 2 March 2009

Allied Farmers has posted a half year loss of $2.4 million.

Operating profits for the livestock trading business performed well, rising 23% to $2.7 million in the six months to December.

But the result was affected by an-after tax loss of $1.6 million from its finance arm and corporate costs.

Looking ahead, Allied Farmers expects further growth in its livestock trading, sale of farm merchandise and real estate arms through expansion.

It expects to return to profitability in the 2010 financial year.