New Zealand meat processor Affco has revealed a loss after tax of NZ$12.3m (US$6.1m) for the full year to September.
The results are disappointing after Affco made a slim profit of $574,000 last year. However, Affco said it had a profitable second half of the year. Chairman Sam Lewis reported that the result included $2.8m of restructuring costs.
The robust New Zealand dollar, set against the softening of the international beef market, also caused the group difficulties. Turnover eased off $211m to $991.9m.