PGG Wrightson says annual earnings to fall as much as 12% as dairy woes weigh

Tue, 27 Oct 2015

By Suze Metherell Oct. 28 (BusinessDesk) - PGG Wrightson, the rural services firm controlled by China's Agria Corp, expects annual earnings to fall as much as 12 percent from the previous year, as weaker dairy prices weigh on farm incomes. The Christchurch-based firm expects operating earnings before interest, tax, depreciation and amortisation to be between $61 million and $67 million in the year ending June 30, 2016, compared to the $69.6 million it reported for the 2015 financial year. Dairy prices recovered in October to be the hig...

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