Shares in Ruralco Holdings Limited (ASX:RHL) finished higher yesterday after the company reported a 24 per cent rise in its 2011 financial year net profit.
In the year to the end of September the seller and marketer of rural products posted a net profit of $15 million.
In the same period underlying profit increased 36 per cent to $17.6 million and sales revenue rose 11 per cent to $1 billion.
The company’s result was underpinned by growth in rural supplies, wool, livestock, grain marketing and financial services but weighed down by a strong Australian dollar, weather conditions and the recent Indonesian live-export ban.
A final fully franked dividend of 9 cents per share has been declared.
Shares in Ruralco ended 2.41 per cent higher yesterday at $3.40.
