AUSTRALIA: AWB first-half profits hit by drought impact
Australian wheat exporter AWB has reported a 61% drop in net profit to A$29.9m (US$19.7m) for the first half to 31 March, due to the impact of the recent drought in Australia. The company said its first-half sales were $1.03bn, down from $1.56bn a year earlier. AWB said it now expects full-year profit to be in the range of $40m to $45m, including a profit of around $3.5m on the sale of its head office, reported Dow Jones International News.
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