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Alliance Meat Company's financial result

Rural News
Alliance Meat Company's financial result

Alliance last week announced operating profit before distributions to shareholders of $67.9 million on turnover of $1.3 billion for the year ended September 30 reports Rural news. Operating surplus after tax and before pool surplus payments for the year was $54.0m, from $10.9m in 2007. The board approved a pool surplus distribution of $20.5m and dividend of 5c per share with a full imputation credit. The combined pool surplus and dividend distribution to shareholders is $23.3m. The pool surplus will be paid on November 21 and the dividend on December 19. A bonus share issue will be made in December 2009. Alliance chairman Owen Poole says the result is pleasing and brings the net profit before distributions over the past five years to $152.2m, $99.3m of which has been distributed to shareholders. "˜For a fully paid average shareholder, this amounts to more than $4.00 per lamb above schedule for every lamb supplied over that period'

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