Ruralco Holdings Limited
(ASX:RHL) has flagged its full year net profit will fall up to 10 per cent from last year as it battles against industry wide pressures.
The agribusiness says weaker sheep and wool prices and a reduction in wool volumes have impacted the profitability and contribution of its agency businesses.
Managing Director John Maher has also advised the company’s Tasmanian residential real estate business has been severely affected by the state's deteriorating economy.
Ruralco Holdings expects to report its results for the year to the end of September on November 20, 2012.
The company’s shares pulled back 0.92 per cent to finish the week at $3.22 after the announcement was made on Friday.
Ruralco Holdings reported a net profit of $12.6 million in the first half of its 2012 financial year.
