New Zealand meat exporter Richmond has said the current financial year will be a difficult one, but added that the company was still focussed on achieving its pre-tax profit forecast of NZ$12.6m (US$8.2m).
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“The current year is going to be tough, very tough,” chairman Sam Robinson was quoted by Dow Jones International News as saying. “With a slow start to the lamb season, the first two months trading have been below budget.”
The high value of the New Zealand dollar was also cutting into the company’s trading performance, Robinson said.
“The board and management are focussed on achieving the forecast pre-tax budget of NZ$12.6m,” he added. “This will require improvements in every part of our business, but Richmond has the team and attitude to achieve this.”
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