News Formal

Australian Agricultural Company increases herd size but its profits are down for FY24

  • 📰 abcnews
  • ⏱ Reading Time:
  • 42 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 51%
  • Publisher: 83%

Aaco Notizia

Beef,Cattle,Anniversary

Australian Agricultural Company says its financial position is strong despite a difficult year, with its herd across Queensland and the Northern Territory increasing to about 455,000 head.

Australia's largest cattle company has increased its herd size by 5 per cent to about 455,000 head, but the value of the herd has fallen nearly $150 million.

"Anyone in beef or agriculture knows cattle prices have taken a fair hit, up to 40 per cent in the last year, and for us it was a $149.4 million effect," he said. He said the company was optimistic that cattle prices would "improve over time", but did not expect it to rush back to the record highs of 2022.AACo is celebrating its 200th year of operation and has relaunched its 1824 Wagyu brand, which "celebrates the year our story began and two centuries of perfecting our craft", Mr Harris says.

AACo's Wagyu beef is a premium product sold mostly into overseas markets and its overall meat sales revenue increased 10 per cent this year.Mr Harris said branded meat sales into Asia grew 28 per cent over the last 12 months, but fell sightly in Europe, the Middle East and North America.

Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

 /  🏆 5. in İT
 

Grazie per il tuo commento. Il tuo commento verrà pubblicato dopo essere stato esaminato.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Hydrogen-powered aircraft in development by Australian company AMSL Aero aims for net zero aviationAn Australian aviation startup on a mission to decarbonise air travel is developing a battery that could power a small aircraft to travel 1,000 km using hydrogen, and it already has a customer.
Fonte: abcnews - 🏆 5. / 83 Leggi di più »

Australian wine company A Glass Of introduces latest range of five 200ml pouchesFinishing the same bottle off over a few evenings can get a little dull. An Australian company has come up with an innovative alternative.
Fonte: FinancialReview - 🏆 2. / 90 Leggi di più »

A living legacy helping the agricultural industry that grew from one family's sacrifice and generosityIn the last days of 1943 a brave young Australian soldier, whose family played an influential role developing Australia's irrigation industries, lost his life trying to save wounded comrades in the mountains of Papua New Guinea.
Fonte: abcnews - 🏆 5. / 83 Leggi di più »