AA Co posts strong $47.9m half-year profit

THE Australian Agricultural Co, the world’s largest beef producer, this morning posted a half-year statutory net profit after tax of $47.9 million for its six months to September 30. The result represented a $1.9m decrease on the same period last year. The company reported operating pre-tax earnings of $13.9 million, a $2.4m increase on the previous corresponding period. Net operating cash outflows of $34.5m included a $41.5m investment in live cattle inventory that will be monetised in the second half of the current financial year. Managing director Jason Strong said building on earlier results, AA Co’s  branded beef sales as…

Source: Beef Central
AA Co posts strong .9m half-year profit