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Alliance Group to repay $34m wage subsidy it received

Alliance Group to repay $34m wage subsidy it received © Supplied / RNZ Alliance Group has joined the growing list of firms repaying the wage subsidy. Alliance received $34 million from the subsidy and had already repaid $21m. Group chair Murray Taggart said it is now in a position to repay the balance. From the outset, Alliance has been clear we would only use the wage subsidy in the way it was intended by government and our previous re-payments reflect this commitment. Last month Alliance Group announced a before tax profit of $7.5m, down from $20.7m in 2019 due to one-off costs. The company also received $1.9m from the government s Leave Support Scheme to support employees that had to self-isolate or were unable to work, which it will not repay.

Alliance Group is returning the balance of the wage subsidy - 23-Dec-2020

Alliance Group is returning the balance of the wage subsidy - 23-Dec-2020
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Covid 19 coronavirus: Alliance Group to repay wage subsidy in full

Covid 19 coronavirus: Alliance Group to repay wage subsidy in full 23 Dec, 2020 04:40 AM 2 minutes to read NZ Herald Invercargill-based Alliance Group has chosen to return the balance of the Covid-19 wage subsidy to the Government. The farmer-owned meat processor had already repaid $21 million of the $34m wage subsidy and will return the balance, it said. Read More From the outset, Alliance has been clear we would only use the wage subsidy in the way it was intended by government and our previous repayments reflect this commitment, chairman Murray Taggart said in a statement. Following the filing of our company accounts last month, the Alliance board believes the co-operative is in a position to repay the remaining balance, he said.

Southland farmer voted off Alliance board

Southland farmer voted off Alliance board 17 Dec, 2020 07:45 PM 2 minutes to read By: Sally Rae Southland sheep and beef farmer Russell Drummond has been narrowly voted off the board of Alliance Group. Drummond, who was elected in 2014, and Ranfurly farmer Dawn Sangster retired by rotation in this year s director elections and both sought re-election. In the result, announced yesterday at the co-operative s annual meeting in Invercargill, Sangster topped the voting with 23,729,251 votes, followed by Pat McEvedy, of Southbridge, with 20,538,214. Drummond (20,335,533) and Stuart Campbell, of Feilding (10,762,549), were the unsuccessful candidates. In his chairman s address, Murray Taggart said it had been a challenging farming season across the co-operative s key catchments with extreme drought in the northern and central regions and a very difficult spring and early summer in Southland and South Otago.

Agility key to Alliance success, board chair says

“If we were in China, we d see that as prudent behaviour,” he said. The market offered some of the best farm-gate returns for farmers because Chinese buyers would often pay more for specific cuts, Taggart said. “Lamb flats are popular through all the hot pot restaurants, for example,” he said. China is Alliance s single-largest market for lamb, but also takes a lot of beef. The past year had taught the group to redirect to different markets based on how accessible they were, Taggart said. When China went into a Covid-19 lockdown early in the year, product was redirected to Europe, and by the time the content began shutting down, the Chinese borders were reopening, he recalled.

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