NO BEEF OVER LOSSES

Written on the 24 August 2010

NO BEEF OVER LOSSES

AUSTRALIAN Agricultural Company Limited (AAC) has recorded a $12.2 million loss for the June half, despite a 43 per cent rise in revenue.

CEO David Farley says the company is now seven months into its turnaround to profitability, with strong beef exports expected in South East Asia and a recovering US market.

“We’ve focused on cash more so than the balance sheet and the second half of this year is where most of our revenue will be generated,” says Farley.

“We’ve increased our herd substantially yet we’ve reduced the total cost of what it takes to run the whole enterprise. Without a doubt history is there to be studied and the future is there to be made – it comes down to the focus of management and getting the most that you can out of your assets.”

Farley says AAC has focused on adjusting the demographics of the herd to maximise revenues, along with a breeder alliance program that frees up properties for more trading cattle.

A feasibility study is currently underway for an abattoir in North Queensland or the Northern Territory, in closer proximity to the company’s cattle stations to cut down on transport costs.

AAC shares rose by 1 cent today to $1.53.


Latest News

SUPREME COURT ORDERS OCTAVIAR GROUP TO WIND UP

THE Queensland Supreme Court has ordered the Octaviar Group of companies (formerly known as MFS Group) to be wound...

CEOS BRAVE THE COLD TO RAISE $1.4 MILLION FOR THE HOMELESS

MORE than 400 executives confronted the cold last night in the annual Vinnies CEO sleepout, which took place benea...

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT "DESPERATION"

South Australia's new bank levy exposes the desperation of a government that is unable to get its own budget and ...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter