Alliance record profit

Major levin employer Alliance Group has announced a record profit before distribution and tax of $117.2 million for the year ending September 30, 2022. The result was a 186 per cent increase on the previous year, on the back of a record turnover of $2.2 billion. The co-operative will be making an $11.3m profit distribution to its farmer shareholders in New Zealand, in addition to a $10 million bonus share issue of one share per qualifying stock unit. Alliance Group chief executive David Surveyor said significant investment in improving the operational performance had contributed to the record profit result. More than 260 people are employed at the Levin plant.