fbpx

Blue Sky Meats Delivers Improved First Quarter at AGM

Aug 22, 2017
1511 Views

What's On Invers Business News Presented by and

Blue Sky Meats’ first quarter financial results have improved significantly, as presented to the company’s shareholders at its Annual General Meeting on Monday, August 21.

The first quarter of the new fiscal year has returned a net profit before tax of $844,000.

The results were presented by Blue Sky Meats CEO Todd Grave and chairman Scott O’Donnell at the AGM at Bill Richardson Transport World yesterday.

Blue Sky Meats Operations Manager Slaughter/Technical Billy Wells, CEO Todd Grave and
Operations Manager Further Processing Brett Jenkins.

The company confirmed a loss for the year ending March 2017, but the Q1 results for the new fiscal year were encouraging and Grave was looking forward to building on those.

Grave was especially pleased with the result, when compared to the same period over the past two years, which has resulted in losses for the company.

“This has been the strongest and most promising start to the fiscal year we’ve had in a while,” he said.

“Strong international selling prices combined with the continuing gains from our strategic plan implementation, have placed us in good stead for the rest of the year.”

While in the past two years this time period has resulted in losses, this financial year, Q1 is showing solid progress, and returned a $844,000 profit.

“It’s very early days, but this is a promising result. The strategic plan gains are contributing directly to the bottom line of the business” Grave said.

 

Over the next three years, the company is working toward a potential $7.8 million profit gain from a new strategic plan, which also includes a series of projects to advance company performance.

The projects, which came around as part of an internal review, aim to strengthen the cornerstones of Blue Sky Meats’ business. The internal review of the company identified 22 key areas within the business that needed time and focus to improve operations.

Blue Sky Meats Butchers Barry & Billy demonstrating meat cuts at AGM.

Additional resource has been allocated to those projects, which will help drive the company toward a sustainable and profitable future.

During the AGM, attendees were treated to an array of presentations, including boning and cutting demonstrations, illustrating some of the behind the scenes workings at Blue Sky Meats.

Several cuts of meat were also prepared and cooked by The Grille’s chef, and served to those at the meeting.

“It was great to see so many people come and check out what we do,” Grave said.

“A lot of people tend to think of meat processing as not a particularly glamourous thing, but with having the various demonstrations, I think it’s been good for people to see how we fit into the chain of creating a final product.”

At this stage, Blue Sky Meats’ Q1 profits are unaudited, NPBT.

New Dress Rental Business Off To A Flying Start.
Business, News
2590 views
Business, News
2590 views

New Dress Rental Business Off To A Flying Start.

Malcolm Gayfer - Jul 08, 2020

A newly formed Invercargill home based business is off to a roaring start. Curvy Rentals NZ is the creation of…

New Owners & Operator For Trampoline Park
Business, News
6565 views
Business, News
6565 views

New Owners & Operator For Trampoline Park

Aimee Wilson - Jul 06, 2020

From trucks to trampolines - the HW Richardson Group just keeps on growing. The Jump ’N’ Fun Indoor Trampoline Park…

Invercargill – Auckland Direct Flights Resume Post Lockdown
Business, News
2883 views
Business, News
2883 views

Invercargill – Auckland Direct Flights Resume Post Lockdown

Malcolm Gayfer - Jul 06, 2020

Air New Zealand will resume its service today, operating on Monday, Thursday, Friday and Sunday. The first flight landed about…

New Report Reveals New Zealand’s Marketing Blind Spot: The Over 50s
Business, News
1466 views
Business, News
1466 views

New Report Reveals New Zealand’s Marketing Blind Spot: The Over 50s

News Desk - Jul 06, 2020

New Zealanders over the age of 50 represent more than a third of the population, have the highest levels of…

Historic Brick Walls Discovered In Invercargill Central Development
Business, Invercargill Central
3961 views
Business, Invercargill Central
3961 views

Historic Brick Walls Discovered In Invercargill Central Development

Malcolm Gayfer - Jun 30, 2020

Heritage Properties NZ have exposed the foundations of the first brick building in Invercargill, which was constructed in 1863 under…

Huge Support Already For ‘Buy a Brick’ Campaign
Community, News
1187 views
Community, News
1187 views

Huge Support Already For ‘Buy a Brick’ Campaign

Aimee Wilson - Jul 12, 2020

Just over a week since launching the ‘Buy a Brick’ campaign, the Southland Charity Hospital has managed to raise in excess…

Disappointing Result For Southern Steel Losing To Northern Stars
News, Sports
236 views
News, Sports
236 views

Disappointing Result For Southern Steel Losing To Northern Stars

Malcolm Gayfer - Jul 11, 2020

  The Northern Stars have proven too strong for an injury-hit Southern Steel outfit, easing out to a 48-39 national…

Downtown Invercargill A Hive Of Activity Over The Weekend
Kids & Family, News
2314 views
Kids & Family, News
2314 views

Downtown Invercargill A Hive Of Activity Over The Weekend

Aimee Wilson - Jul 11, 2020

Kids will be taking over Esk Street this weekend with games and activities all day long. The ‘Kids in the…

Toxic Mould Finally Able To Be Removed At Rugby Park
News, Sports
932 views
News, Sports
932 views

Toxic Mould Finally Able To Be Removed At Rugby Park

Aimee Wilson - Jul 11, 2020

Progress is being made towards the removal of toxic mould at Rugby Park, despite delays due to structural concerns and…

Netball – Southern Steel Shooting Woes Continue
News, Sports
831 views
News, Sports
831 views

Netball – Southern Steel Shooting Woes Continue

Southland Sports News - Jul 11, 2020

The struggles continue for the Southern Steel after 40-37 loss against the Central Pulse in the ANZ Premiership and the…