Photo: SuppliedA $65.4million after-tax net profit for Silver Fern Farms Ltd is "very pleasing" in the context of a year of disruption and complexity, chief executive Simon Limmer says. Silver Fern Farms Co-operative, which jointly owns Silver Fern Farms Ltd with Chinese-owned Shanghai Maling Aquarius, posted a net profit of $32.4million, down from $35.1million the previous year. Silver Fern Farms Ltd’s revenue was $2.5billion, down from $2.6billion in 2019, while earnings before interest, tax, depreciation and amortisation (ebitda), including share-of-associate earnings, was up from $124.3million to $125.7million. "Despite all that disruption, we have witnessed character and resilience throughout our Silver Fern Farms community, from on farm right through to our partners in market. Silver Fern Farms Ltd directors have declared a 100% imputed dividend of $26.2million payable to its two shareholders.

Source: Otago Daily Times March 31, 2021 15:33 UTC