The Australian Agricultural Company posted a full-year net loss of $94.6 million,

The Australian Agricultural Company posted a full-year net loss of $94.6 million, which is a stark contrast from reporting a profit of $4.6 million the previous year, after the company said it was a “challenging” year. The Agricultural Company said weaker cattle prices were to blame which resulted in a downward unrealised mark-to-market fair value adjustment to the herd of $149.4 million. But sales revenue did lift 7 per cent to $336.1 million. CEO David Harris said the company’s ability to increase sales volumes whilst experiencing price resilience shows the strength of its supply chain and the value associated with its branded beef.
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