PGG Wrightson Limited reported unaudited consolidated earnings results for the six months ended December 31, 2014. For the period, the company reported operating revenue of NZD 654,699,000 compared to NZD 634,892,000 a year ago. Operating EBITDA was NZD 33,640,000 compared to NZD 22,314,000 a year ago. Operating EBITDA (including earnings of associates) was NZD 33,799,000 against NZD 23,560,000 a year ago. EBITDA was NZD 35,067,000 compared to NZD 23,856,000 a year ago. Profit from continuing operations before income taxes was NZD 28,096,000 compared to NZD 14,357,000 a year ago. Profit from continuing operations was NZD 19,555,000 against NZD 12,053,000 a year ago. Profit was NZD 19,717,000 or NZD 0.026 basic per share compared to NZD 13,406,000 or NZD 0.016 basic per share a year ago. Profit attributable to shareholders of the company was NZD 19,477,000 against NZD 13,082,000 a year ago. Net cash flow used in operating activities was NZD 11,437,000 compared to net cash flow from operating activities of NZD 10,549,000 a year ago. Purchase of property, plant and equipment was NZD 4,145,000 compared to NZD 4,633,000 a year ago. Purchase of intangibles (software) was NZD 811,000 compared to NZD 512,000 a year ago.

The strength of this first half result has given confidence that the 2015 full year result will be solid. While the impact of a number of factors in the remainder of the financial year are yet to be determined, full-year guidance for Operating EBITDA (excluding earnings of associates) has increased to a NZD 62 to NZD 68 million range. This represents a significant improvement on the last financial year's strong result of NZD 58.7 million.