AUSTRALIA: AACo H1 results exceed FY expectations, profit guidance revised upwards
The Australian Agricultural Company (AACo) today announced earnings before interest and tax (EBIT) for the six months to 31 December 2001 of A$41.2m (US$21.3m), an increase of 142% over the previous corresponding period. Net profit after tax (NPAT) for the period rose 136% to A$28.1m. Earnings increased primarily as a result of higher beef sales revenue and mark to market valuation increases brought about by the continued strength of cattle prices. Prices finished the six-month period to 31 December 2001 at a considerably higher level than at the start of the financial year.
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