10 Sep 2012

Satara profit down

7:17 am on 10 September 2012

Satara Cooperative made a profit of $877,000 in the six months to the end of June, a decrease of 23% compared with the same period a year earlier.

Revenue fell 3% to 33 million.

The company says the result was hit by $2.5 million worth of supplier commitment payments that it made at the beginning of the season when pack houses competed to secure growers' crops.