Fleur-Revell posted on April 16, 2011 12:07
Media release; Kiwi Chicken Business Bucks Recession – a New Zealand owned chicken grower is seeking funds to expand its growing operations in Australia.
A New Zealand company making its mark on the Australian chicken industry is finding the global financial crisis working in its favour.
ProTen Limited runs a competitive chicken broiler business comprising of 124 farming sheds over six farms in Australia, with an annual capacity of more than 29 million birds – a six percent share of the Australian market.
While a number of sectors continue to suffer from the effects of the global financial crisis, ProTen is bucking the trend as consumers favour more value priced meats like chicken as their spending power has reduced.
That, added to chicken protein consumption in Australia being at an average annual growth of 3-4 percent and demand exceeding supply, means the future is bright for the Kiwi company.
ProTen was founded in New Zealand in 2001 to consolidate the broiler chicken farming businesses of four existing operations in New Zealand.
Investment into the Australian market began just a year later and between 2003 and 2006 all New Zealand assets were sold and the capital was reinvested into the Australian market through acquisition and “green field” development.
ProTen has quickly emerged as a preferred leading supplier of broiler chickens in Australia and has successfully secured long-term extendible contracts with Australia’s leading chicken processor Baiada Poultry Pty Ltd.
ProTen chief executive Daniel Bryant says the company has no plans on slowing down and growth is high on the company’s agenda.
“Plans are underway to build around 100 new sheds over the next five years, which will put ProTen in a very strong position in the Australian chicken broiler industry.”
“ProTen will potentially have about 220 sheds in operation, producing 60 million broiler chickens annually, resulting in a total market share from six percent to 12 percent,” he says.
“Additionally, ProTen is responsible for the project design and construction of farming sheds, as well as the ongoing management of the operations.”
Last year ProTen reported a record net profit after tax of $3.34 million. Earnings before tax were a record $4.72 million.
ProTen is currently registered with the Unlisted trading facility in New Zealand, which allows shareholders to buy or sell ProTen shares.