PGG Wrightson Limited Reports Audited Consolidated Earnings Results for the Year Ended June 30, 2017
August 08, 2017 at 04:30 am EDT
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PGG Wrightson Limited reported audited consolidated earnings results for the year ended June 30, 2017. For the period, the company reported net profit after tax of NZD 46.3 million against NZD 43.8 million a year ago. Operating EBITDA was NZD 64.5 million against NZD 70.2 million a year ago. Net cash flow from operating activities reduced NZD 14.7 million to NZD 20.5 million. The company spent NZD 19.9 million on capital expenditure and investments and realized NZD 26.8 million from the sale of non-strategic assets. Operating revenue was NZD 1,132,963,000 compared to NZD 1,181,624,000 a year ago. EBIT was NZD 62,867,000 compared to NZD 64,930,000 a year ago. Profit from continuing operations before income taxes was NZD 56,709,000 compared to NZD 54,456,000 a year ago. Profit from continuing operations was NZD 46,281,000 compared to NZD 43,990,000 a year ago. Profit attributable to shareholders of the company was NZD 45,607,000 compared to NZD 43,024,000 a year ago. Basic earnings per share were NZD 0.061 compared to NZD 0.058 a year ago. Basic earnings per share from continuing operations were NZD 0.061 compared to NZD 0.058 a year ago. Net cash flow from operating activities was NZD 20,468,000 compared to NZD 35,212,000 a year ago. Purchase of property, plant and equipment was NZD 12,803,000 compared to NZD 30,750,000 a year ago. Purchase of intangibles was NZD 4,307,000 compared to NZD 2,176,000 a year ago. Net tangible assets per share were NZD 0.352 compared to NZD 0.335 a year ago. Net interest bearing debt was NZD 128,241,000 compared to NZD 126,573,000 a year ago.
PGG Wrightson Limited is a New Zealand-based agribusiness company. The Company is primarily involved in the provision of goods and services within the agricultural and horticultural sectors. The Company operates in two segments: Agency and Retail & Water. The Agency services segment includes the sale and purchase of all categories of livestock (sheep, beef, dairy, and deer) at saleyards, auctions, private and on-farm sales, and online trading of livestock. The Company operates from 56 auction selling centers, located throughout New Zealand, of which 40 are owned and co-owned saleyards. The Retail & Water segment includes the Rural Supplies and Fruitfed Supplies retail operations, Agritrade, PGG Wrightson Water, PGW Consulting, ancillary sales support and supply chain functions. It also offers full-service water and irrigation packages to its clients nationwide servicing the agricultural and horticultural and water reticulation markets in New Zealand.