Business
Profit plunge for chicken giant Ingham’s – NEWS.com.au
Poultry producer Ingham’s hit by COVID disruption, lower demand
Inghams produced more poultry during the 2019-20 financial year but was hit by a fall in demand, while COVID-19 restrictions constrained supply chains and operations in Australia and New Zealand.The company managed to lift production levels by 3.3 per cent despite the disruptions and was met by oversupply in both markets in the June quarter.
Feed costs were higher due to tight domestic wheat supply and inflated prices for imported ingredients, contributing to a more than 68 per cent net profit …
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