A run of three consecutive profitable financial years for livestock ship owner and charterer Wellard has come to a halt with a large loss reported overnight for the 2023 financial year ended June 30.
Wellard posted a net loss after tax for the 2023 financial year of A$24 million ($US15.5m), which compared to the previous financial year result which was a net profit of A$15.3m (US$9.9m).
Wellard attributed its disappointing financial performance in FY2023 to numerous factors.
The most significant was a poor macro-trading environment – headlined by continued depressed live cattle…
