New Zealand's largest meat processor, Silver Fern Farms, reported a $24.4M loss, with revenues down $500M amid red meat export price decline due to China softness and Australian product flooding markets.
New Zealand's largest meat processor, Silver Fern Farms, reported a $24.4M loss after tax for the 2023 financial year, with revenues down nearly $500M to $2.78B. The decline in red meat export prices, particularly lamb, is attributed to softness in China and Australian product flooding markets. The company aims to reduce operating costs and defer non-critical spend and investment until market conditions improve.
April 01, 2024
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