Heartland buys Aussie stock-financing business for up to A$154m

CEO Jeff Greenslade said the purchase fits Heartland's 'best or only' strategy. (Image: supplied)

Fri, 01 Apr 2022

Heartland Group will pay up to A$154 million (NZ$166m) for an Australian livestock financing business called StockCo Australia.Heartland said it expects the purchase will contribute an additional A$10m to A$12m in net profit before any ongoing cost of acquisition debt funding.Heartland reported a 7.8% increase to $47.5m in first-half net profit. Guidance for the full year ending June 30 is between $93m and $96m and the company said that guidance remains unchanged, given the likely timing of the settlement by the end of May.StockCo specialises i...

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