Silver Fern Farms, The Country’s Largest Meat Processor And Marketer, Has Announced A Profit Of 82%

Silver Fern Farms, the country’s largest meat processor and marketer, has announced a profit of 82%. The Dunedin-based company reported a record profit of $189.3 million last year, up from $103.8m in 2021. Revenue rose to $3.27 billion from $2.75b the previous year. Jointly owned by its farmer co-operative and Chinese food company Shanghai Maling Aquarius, Silver Fern Farms is now investing in its processing plants and products with the aim of becoming the world’s most sustainable grass-fed red meat company. Chief executive Simon Limmer says the improved performance enables the company to fund investment across all its 14 processing sites, with plans to spend $250m over the next three to five years. The company launched its first carbon-zero certified beef in the United States last year.