Australian Agricultural Company Limited announced earnings results for the year ended March 31, 2018. For the year, the company reported total meat sales revenue of AUD 332.7 million against AUD 383.0 million a year ago. Cattle sales were AUD 47.0 million against AUD 63.7 million a year ago. Operating EBITDA was AUD 13.6 million against AUD 45.0 million a year ago. Statutory LBITDA was AUD 35.3 million against statutory EBITDA of AUD 133.2 million a year ago. Operating LBIT was AUD 79.0 million against operating EBIT of AUD 28.3 million a year ago. Statutory LBIT was AUD 128.0 million against statutory EBIT of AUD 116.5 million a year ago. Net operating cash out flow was AUD 39.9 million against net operating cash inflow of AUD 29.3 million a year ago. Statutory net loss was AUD 102.6 million against net profit of AUD 71.6 million a year ago. Net tangible assets per share were AUD 1.62 against AUD 1.82 a year ago. The result of AACo ex Livingstone Beef was earnings of AUD 36 million, while Livingstone Beef saw an operating EBITDA loss of AUD 22.4 million. Earnings were impacted by a number of factors, including increased competition affecting certain parts of the product portfolio, reduced volumes due to less reliance on external supply, and increased input costs driven by dry weather conditions. Closing net debt was at AUD 348.0 million. Operating cash flow was a negative driven by Operating EBITDA as well as other factors, including an increase in working capital of AUD 16.6 million, reflecting a normalisation of historically low working capital level balances following a material reduction at the end of fiscal year 2017.