AAco expects loss of up to $60m for 09

AAco expects loss of up to $60m for 09

Grazier Australian Agricultural Company (ASX:AAC) has announced it expects to post a net loss of between $53 million and $60 million for 2009.

Much of the impact on earnings has been attributed to the droughts of 2008 and flooding of early 2009 in the company’s properties in northern Australia.

The weather conditions caused cattle losses, and led to reduced weight gain in the cattle herd. Meanwhile the price of cattle remained subdued throughout the year, and the strong value of the Australian dollar also affected earnings.

The company will report its full financial results in mid-February.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags agriculture2009 Financial ResultsAustralian Agricultural Company Ltd (AAco)

Show Comments