Australian Agricultural Company posts $102.6M loss

Company News

by Anna Napoli

Farming business, The Australian Agricultural Company (ASX:AAC) has announced a $102.6 million full year loss

The company says it will close its Livingstone Beef Facility in Northern Territory next year following ongoing losses.

Earnings (operating EBITDA) were also down to $13.6 million, compared with $45 million the previous year.

The company says earnings were impacted by increased competition, reduced volumes and increased input costs.

Shares in The Australian Agricultural company (ASX:AAC) are trading up 1.77 per cent to $1.15.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.