Australian Agricultural Company Limited
(ASX:AAC) expects to post a loss in the range of $53-$60 million for fiscal 2009.
The beef cattle producer said the financial results have been negatively affected by extreme climate and external market factors.
AACo said the full year 2009 guidance includes a positive movement in the company’s interest rate swap position, which will create a non-cash uplift of about $14 million, compared to a loss of $25 million on interest rate swaps in 2008.
The company expects to announce results for the 2009 financial year in mid February 2010.
AACo reported a 38.72m loss for calender 2008.
