AACo has 453,000 head of cattle and sells high-end wagyu beef.
Says underlying earnings fell 25% but argues wagyu market is safe.
Also eyeing new green initiatives for its 1% of Australia’s land.
Earnings at Australian Agricultural Company, one of Australia’s biggest beef producers, slid more than 25 per cent in the past year, with the company deciding against paying a dividend for the 16th year in a row.
AACo reported $50.5 million in underlying earnings for the 12 months to March 31, down from $67.4 million, but its chief executive David Harris said he was confident that demand would remain strong for its premium wagyu product.
Loading...
Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
