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.