ASX Sell Stocks Australian Agricultural Co. (AAC)
26th Jul 2011
Australian Agricultural Co. (ASX:AAC) is the oldest continuously operating company in Australia, supplying domestic and export beef consumers.
AAC is the largest beef cattle company in Australia, and is managed from Brisbane, with regional management located on each station. The business also has one of Australia’s leading composite breeding programs.
AAC has been one of the shares to sell since April, tumbling from a high of $1.70 to current prices around $1.40.
On 25 July, AAC reported a 1H11 net loss of $12.6 million. This compares to a net loss of $12.2 million a year earlier.
However, revenue jumped 53% on-year to $58.2 million, driven by an increase in cattle sales and favourable seasonal conditions.
AAC reaffirmed FY11 EBITDA guidance of $50 – $60 million, taking into account the Meteor Downs station sale, favourable market conditions and the government’s repeal of the live cattle ban.
Click to receive FREE Daily Stock Recommendations for 7 Days!
Written by: admin
Other posts from: admin
Posted in ASX Small Caps, ASX Top 200 XJO, ASX Top 500 All Ordinaries, Australia Shares, Consumer Staple Stocks, Financial News, Market Sectors News, S&P ASX News, Sell Shares, Stocks Investing Advice
