The Australian Agricultural Co appears to be weathering the current challenging meat and livestock market conditions better than might be expected. The company presented first half 2023-24 (ended 30 September) financials to the market this morning, delivering an operating profit of $30.1 million, down from $38.3m a year earlier.
This was supported by an increase in volume of meat sales, while more or less maintaining average Wagyu meat sales price ($20.96/kg, up 5pc on last year).
Total revenue for the half year was of $167.1m was up 2pc compared with the same period 12 months earlier.
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