PGG Wrightson Limited Reports Unaudited Earnings Results for the Six Months Ended December 31, 2016
March 28, 2017 at 04:40 am EDT
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PGG Wrightson Limited reported unaudited earnings results for the six months ended December 31, 2016. For the period, the company reported operating revenue of NZD 607,771,000 compared to NZD 623,066,000 a year ago. Operating EBITDA was NZD 25,982,000 compared to NZD 30,936,000 a year ago. EBIT was NZD 22,443,000 compared to NZD 26,068,000 a year ago. Profit from continuing operations before income taxes was NZD 20,932,000 compared to NZD 22,548,000 a year ago. Profit from continuing operations was NZD 15,977,000 or NZD 0.021 per basic share compared to NZD 15,990,000 or NZD 0.021 per basic share a year ago. Net profit after tax attributable to shareholders of the company was NZD 15,998,000 or NZD 0.021 per basic share compared to NZD 15,947,000 or NZD 0.021 a year ago. Net cash outflow from operating activities was NZD 16,193,000 compared to NZD 12,174,000 a year ago. Purchase of property, plant and equipment was NZD 6,950,000 compared to NZD 22,454,000 a year ago. Purchase of intangibles was NZD 933,000 compared to NZD 722,000 a year ago. Net interest bearing debt was NZD 156.2 million compared with net interest bearing debt at December 2015 of NZD 167.4 million.
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.