PGG Wrightson posts 24 percent gain in operating income on strong sales across the board

Tue, 25 Feb 2014

By Suze Metherell Feb. 25 (BusinessDesk) – PGG Wrightson reported an operating earnings gain of 24 percent in the first-half as the rural services firm controlled by China’s Agria Corp achieved growth in all its business units except wool. The shares jumped 6 percent to 44 cents. Earnings before interest, tax, depreciation and amortisation were $22.3 million in the six months ended Dec. 31, from $18 million in the same period a year earlier. Net profit jumped to $13 million from $4.8 million, reflecting gains made from accounting adjustments...

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