AAco Reports Net Loss

Submitted by Share Trading on 11 August, 2010 - 10:59

Australian beef cattle producer, AAco (ASX:AAC) has reported a net loss of $12.2 million in the 2009-2010 fiscal year to June 30. The net loss is less compared to the previous year when Australian Agricultural Company reported a loss of $30.3 a year.

AAco - Australian Agricultural Company Financials

AAco shares closed Tuesday 0.33 percent higher at $1.53. AAco's revenue of $105m for the first six-month period was well ahead of the $31.3m recorded in the previous corresponding period, and its EBITDA of $3.9m was $27.4m ahead of last year.

AAco Challenges

AAco faces challenges in the competition arena with Malaysia and Indonesia planning to set limits on the size of cattle being imported are also planning to set up their own beef industries. Most of AAco's live beef stocks are exported to Asia or the Middle East. The company exports to other growth markets such as the Middle East, Korea and Taiwan, and the US.