New Zealand meat processor Richmond has said its full-year pre-tax profit will be up on last year and will even beat its own internal forecasts.

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“Richmond announces that it will comfortably exceed both its year-end target and the prior year profit before tax of NZ$20m (US$12.4m),” the company was quoted by Reuters as saying.


Earlier this week, meat processor PPCS unveiled a $3.11 per share takeover offer for the remaining shares in Richmond. PPCS already owns a 62.9% stake in its former rival.

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