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Article: Challenges for Allied Farmers
- Article from:
- The Press
- Article date:
- November 1, 2006
CopyrightCopyright 2006 The Press. Provided by ProQuest LLC. (Hide copyright information)
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Allied Farmers says it is expecting another challenging year
because of lower payouts to dairy farmers and regulatory changes
affecting the finance industry.
Chief executive John Loughlin told the listed Hawera rural
services firm's annual meeting yesterday that recent trading was
unsatisfactory.
In the latest June year, Allied reported a 60 per cent fall in its
tax-paid profit to $1.3 million. It issued a warning in May that its
pre-tax profit would be 40% lower at $2.15m.
Loughlin described it as a ...