Alliance seeking outside capital
Reeling from two consecutive years of heavy losses, Alliance says it has appointed Craigs Investment Partners to explore external capital-raising options.
The quarterly payments have been made to the cooperative’s Platinum and Gold shareholders who supply 100% of their stock to the company.
The company says today’s loyalty payments are for the period January-March 2018 and brings the total amount distributed to loyal shareholders for the season to date to $9.8m, an increase of 4.7% compared to the same period of the 2016/17 season.
Farmers supplying 100% of their lambs are paid an additional 10c/kg for each lamb, 6 cents/kg for sheep, 8.5 cents/kg for cattle and 10 cents/kg for deer.
David Surveyor, Alliance Group chief executive says the company is 100% owned by farmer shareholders.
“We’re committed to offering a range of benefits above the price on the day including loyalty payments and yield contracts. We also provide other benefits such as priority processing and store stock facilitation.
“Our Loyalty Payments programme is a major part of our strategy to reward our loyal suppliers for their consistent and committed supply.
“Every cent Alliance Group makes in profits is delivered back to farmers or re-invested into the business to continue to improve our operational efficiency and ultimately lift returns to our farmer shareholders.”
Alliance Group distributed more than $15 million in loyalty payments over the 2016-17 season.
