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hanover. annual result

Allied Farmers posts grim looking $77.6 million loss

Allied Farmers has reported an unaudited net loss of $77.6 million for the year to June, 121.4% worse than the $34.2 million loss recorded in 2009.

The result included a $21.4 million goodwill write off in its investment in subsidiary Allied Nationwide Finance, which collapsed into receivership in late August triggering a $137 million payout under the Crown retail deposit scheme.