Earlier Rains Help AACo

AUSTRALIA - The first six months of 2012 has seen Australian beef operation, AACo, benefit from rain received in late March and early April, acording to the directors report in the latest half year results.

9 August 2012

1 minute read

Oceania

These rains have ensured that AACo has more than sufficient pasture to deliver on management forecasts for 2012.

The herds across all properties are in very good condition and the available pasture is expected to promote excellent weight gain.

This in turn has led to slower turnoff of cattle to market and delayed completion of first round mustering and branding of cattle.

Cattle prices have eased since December 2011 but are expected to firm in the second half of this year.

In the half year to June, cattle sales were up by A$12.5 million, a 13.7 per cent increase compared to the 2011 comparative period.

Gross operating margin was up by A$11.4 million, a 31.8% increase compared to 2011.

EBITDA rose by of A$2.6 million, showing a 40.5% increase compared to last year and EBIT from continuing operations was $4.4 million, an 84.8% increase compared to 2011.

Net loss after tax from continuing operations was A$4.1 million, showing a $8.5 million turnaround compared to 2011.

There were increased herd numbers of 38,821 head a 6.1 per cent increase and operating cash flow improved by A$36.8 million compared to 2011.