Wrightson earnings slide as gloomy farmers cut spending

Mon, 12 Aug 2019

By Paul McBeth Aug. 13 (BusinessDesk) - A skinnier PGG Wrightson reported a 29 percent slide in annual earnings from its remaining businesses as the Mycoplasma bovis outbreak curbed spending by farmers. Operating earnings before interest, tax, depreciation and amortisation were $24.4 million in the 12 months ended June 30, down from $34.5 million a year earlier and short of the $25-30 million guidance range provided in May. Revenue from Wrightson's continuing operations edged up 0.1 percent to $809.3 million. "Farmer confidence in part...

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