Landcorp back in the black as valuations swing in its favour

Thu, 31 Aug 2017

By Jonathan Underhill Aug. 31 (BusinessDesk) - Landcorp Farming reported a full-year profit as the state-owned farmer recognised a jump in the value of livestock and benefited from strong market prices. Profit was $51.9 million in the year ended June 30, more than four times the $11.5 million it earned a year earlier. Revenue rose 11 percent to $233.5 million while expenses rose 3.3 percent, which included costs related to the end of its sharemilking contract with Shanghai Pengxin, the company said. The results include a $20 million in...

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