Manager
ASX Market Announcements Australian Securities Exchange
Attached is the Australian Agricultural Company Limited's Half Year Financial Report for the half year ended 30 September 2016.
Issued by:
Bruce Bennett
General Counsel and Company Secretary
Australian Agricultural Company LimitedABN 15 010 892 270
FINANCIAL REPORT For the half-year ended 30 September 2016Contents
Directors' report � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 2
auditor's Independence Declaration � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 10
Consolidated Income Statement � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 12
Consolidated Statement of Comprehensive Income � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 13
Consolidated Statement of financial position � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 14
Consolidated Statement of Changes in equity � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 15
Consolidated Statement of Cash flows � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 16
Notes to the financial Statements � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 17
Directors' Declaration� � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 25
Independent auditor's review report to the Members� � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 26
Company Information� � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 27
this interim financial report does not include all the notes of the type normally included in an annual financial report� accordingly, this report is to be read in conjunction with the financial report for the year ended 31 March 2016 and any public announcements made by australian agricultural Company limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001�
AustrAliAn AgriculturAl compAny limited |half year report 2017
DIRECTORS' REPORTYour Directors present their report on the Group consisting of Australian Agricultural Company Limited and the entities it controlled (AACo) at the end of, or during, the half-year ended 30 September 2016.
DIRECTORS
The following persons were Directors of Australian Agricultural Company Limited during the half-year and up to the date of this report. Directors were in office for this entire period unless otherwise stated.
Donald McGauchie AO (Non-executive Chairman) Jason Strong (Managing Director)
Stuart Black AM David Crombie AM Tom Keene
Dr Shehan Dissanayake Anthony Abraham
Neil Reisman
REVIEW AND RESULTS OF OPERATIONS
About AACo
The Australian Agricultural Company (AACo) is the oldest continuously operating company in Australia with a heritage dating back to 1824.
AACo's business activities
AACo is a vertically integrated branded beef company which owns and operates a strategic balance of properties, feedlots, farms and a processing facility comprising around 6.4million hectares of land, which equates to roughly 1% of Australia's land mass. The Company runs Australia's largest herd of Wagyu cattle, producing high grade Wagyu beef which is exported to more than 20 countries around the world. AACo employed 610 employees calculated on a full time equivalent basis as at 30 September 2016 (31 March 2016: 592).
AACo's business model
AACo is a fully integrated branded beef business with three principal activities:
> Sales and marketing of high quality branded beef into global markets.
> Production of beef including breeding, backgrounding, feedlotting and processing of cattle; and
> Ownership, operation and development of pastoral properties;
Marketing and selling its branded beef is where AACo generates revenue and profits. The charts below show the volume and sales contribution by region in H1FY17.
Sales Revenue (A$m) SalesVolume (Million KGs)
$11.1
$41.7
$26.7
$47.9
USA
Australia Domestic Australia Export
South Korea
3.0
1.7
2.1
2.7
USA
Australia Domestic Australia Export
South Korea
$33.1
$35.5
Japan
Other Countries
7.2
17.0
Japan
Other Countries
AUSTRALIAN AGRICULTURAL COMPANY LIMITED |HALF YEAR REPORT 2017
AAco - Australian Agricultural Company Limited published this content on 23 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 November 2016 18:59:19 UTC.
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