25 Mar 2013

Poultry company set to expand in Australia

9:15 am on 25 March 2013

A New Zealand poultry company that has invested heavily in its production capacity says it is now on track to increase its Australian market share by a third in the next 12 months.

ProTen, which was founded in 2001 to consolidate the broiler chicken farming businesses of four existing operations, has embarked on an ambitious development programme aimed at boosting annual production to 42 million chickens over the next 12 months.

It says bringing another 14 million chickens to market as well as favourable market demand conditions and an improvement in its loan structure has led to a 37% rise in its share price on the unlisted market.

ProTen says it expects revenue to rise by 63% in 2015 to more than $30 million.