Silver Fern Farms has increased its net profit after-tax by more than 50 per cent, a "very pleasing" result given the current disrupted environment, chief executive Simon Limmer says.
Yesterday, the Dunedin-headquartered meat company released its full-year results to December 31 2021, reporting a net profit after tax of $103.8 million, up from $65.4m the year before.
Silver Fern Farms Co-operative, which jointly owns Silver Fern Farms with Chinese-owned Shanghai Maling Aquarius, also increased its after-tax profit to $51.5 million, up from $31.6 million in 2020.
Silver Fern Farms' revenue was $2.7 billion, up from $2.5 billion the year before, while earnings before interest, tax, depreciation and amortisation (ebitda), including share-of-associate earnings, were up from $125.7m to $179.7m.
Last year was another challenging one as global disruption caused by the Covid-19 pandemic continued, Limmer said.