Landcorp 1H earnings soar on rising dairy income, chairman Baylis to go

Mon, 03 Feb 2014

By Paul McBeth Feb. 4 (BusinessDesk) - Landcorp Farming, which manages 137 farms, more than tripled first-half profit as record milk prices drove up dairy income and said earnings will hold up for the rest of the year. Separately, chairman Bill Baylis announced plans to resign from the board. Operating profit rose to $12.2 million in the six months ended Dec. 31 from $2.5 million a year earlier, on a 27 percent gain in revenue to $119.4 million, the state-owned farmer said in a statement last week. Landcorp expects to report full-year operat...

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