Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Sanford Limited: Six Months Results to 31 March 08

Half Yearly Report


The financial statements have been prepared in accordance with New Zealand Generally Accepted Accounting Practice (“NZ GAAP”) applicable to interim financial statements. They have been prepared in accordance with New Zealand Equivalent to International Financial Reporting Standard (NZ IFRS) NZ IAS 34 Interim Financial Reporting. Compliance with NZ IAS 34 ensures that the financial statements also comply with IAS 34 Interim Financial Reporting.

Sanford is pleased to report a profit of $35.3m for the six month period ended 31 March 2008 compared with $11.4m for the same period last year.

Revenue has increased by 18.5% from $184m last year to $218m this year.

Increased sales volumes and improving prices have lifted EBITDA from $26.3m last year to $35.5m this year.

Included in the profit for the six months is a one-off gain of $26.2m on the sale of shares in the Canadian company Fishery Products International Limited (FPI) and an impairment charge of $5.6 (net of tax). Operational profitability of the business has been strong, with improved catches

Full half year report (PDF)
Interim Financial Statements (PDF)

© Scoop Media

Business Headlines | Sci-Tech Headlines


Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>


Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>