Alliance Group chairman Murray Taggart says the co-operative has strengthened its balance sheet "considerably" during a challenging year for farmers. The company’s business transformation strategy was resulting in tangible benefits that had exceeded expectations, delivering gains of $56million compared to the budgeted $34million, Mr Taggart said. Debt reduced from $129million to $41million and there was no seasonal debt. Chief executive David Surveyor said the co-operative’s focus over the past year was on ensuring the business strategy gained traction. "We would have liked to have absorbed more and remain committed to finding ways to pay farmers more for their livestock," Mr Surveyor said.

Source: Otago Daily Times November 11, 2016 17:10 UTC