PGG Wrightson warns annual operating earnings likely to fall amid weak commodity prices

Mon, 17 Oct 2016

By Tina Morrison Oct. 18 (BusinessDesk) - PGG Wrightson expects operating earnings to decline this year, snapping three years of growth, amid weakness in some of the key agricultural commodity markets it has exposure to. Operating earnings before interest, tax, depreciation and amortisation are expected to be between $62 million and $68 million in the year to June 30, 2017, down from $70.2 million the year earlier, the Christchurch-based company said in a presentation prepared for its annual meeting today. Net profit after tax is expected...

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