Home > Lamb co-op achieves record profits in China

Lamb co-op achieves record profits in China

Editorial
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WA-based WAMMCO, Australia’s largest lamb and mutton co-operative has recorded soaring profits following an overhaul to its NSW abattoir and a significant increase to sales to China.

The co-op generated $10m before tax, and a $1.8m rebate payment to producer members in 2012-2013. A result which is in stark contrast to the $885,000 loss that the co-op experienced in 2011-2012 due to the purchase and refurbishment of the Southern Meats abattoir in Goulburn NSW, The West reports.

Coll MacRury, chief executive of WAMMCO said that strong mutton sales to China drove a significant percentage of the sales, and that Australia’s mutton exports to China, Taiwan and Hong Kong increased 166 percent to $92.4m in 2012/2013.

"There have been a lot of benefits from the increased activity out of China," he said. "It has lifted the world base price for cheaper products which has helped the whole industry."

photo credit: Yndra via photopin cc

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