Alliance Group returns to profit after two years with $93m turnaround
After two years, Alliance Group has returned to profit.
The quarterly payments have been made to Alliance’s Platinum and Gold shareholders who supply 100% of their livestock to the company.
Farmers are paid an additional 10c/kg for each lamb, 6c/kg for a sheep, 8.5c/kg for cattle and 10c/kg for deer. The payments cover the period April-June 2020.
The latest distribution brings the total amount distributed to loyal shareholders for the 2019-20 season to $13 million.
Alliance Group chief executive, David Surveyor says the loyalty programme is an important part of the co-op’s strategy.
“Platinum and Gold shareholders receive a host of other benefits including priority processing, which is particularly important during challenging times such as droughts, and prioritised access to minimum price contracts. They can also take advantage of our free store stock facilitation service.
“Success for Alliance is processing our farmers’ livestock, keeping our people safe, preserving jobs and income, supporting our local communities and maximising prices in global markets.”
Meanwhile, farmers are being encouraged to register to attend Alliance Group’s 2020 Annual Roadshows over September and October. Twenty-three meetings will be held across the country, starting out in Omihi on 22 September and finishing in Cromwell on 20 October.
