NZ poultry company eyes Australian expansion
A poultry company in New Zealand has invested heavily in its production capacity and is preparing to increase its Australian market share by a third in the next 12 months.
The company, ProTen, was founded in 2001 by consolidating the broiler businesses of four existing operations. It has now embarked on an ambitious development programme aimed at boosting annual production to 42 million chickens over the next 12 months.
It says bringing another 14 million chickens to market as well as favourable market demand conditions and an improvement in its loan structure has led to a 37% rise in its share price on the unlisted market.
ProTen says it expects revenue to rise by 63% in 2015 to more than $30 million.
Source: Radio New Zealand
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