A growing demand for red meat products is one of the factors behind a much improved performance this year by sheep meat processors Alliance Group.

It's just declared a pre-tax profit of $17.6 million and will pay out its 5000 shareholders from a pool of $7 million.

Alliance chief executive Grant Cuff says there's been good international demand and prices are going up.

He says the global demand for protein is growing, especially from China, but traditional markets in Europe and North America are also showing signs of recovery.

Other factors for the result and improved turnover are rising consumer confidence and the global economy recovering.