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Article: No final dividend as Allied Farmers forecasts loss

Article from:
The Press
Article date:
June 26, 2007
Author:
Copyright

Allied Farmers says it expects a $4 million pre-tax loss this June year, after being hit by one-off costs from a mill closure and integration of two finance company acquisitions.

No dividend would be paid, the listed Hawera rural services and finance firm said yesterday.

Allied announced last month that it was closing Wanganui sawmill subsidiary Allied Pine with the loss of 56 jobs. The sawmill had been losing money for the past four years.

During the current financial year Allied Farmers has bought Nationwide Finance from Hanover Group for $33m, adding it to its ...

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