Wrightson wary of dramatic market change

Thu, 27 Feb 2020

PGG Wrightson chief executive Stephen Guerin said he's cautious about the recent curveballs thrown at the rural sector, but optimistic about the long-term outlook.The company yesterday reported a net profit of $12.8 million in the six months ended Dec. 31, down from the $131.8 million a year earlier when it booked a massive gain on the sale of its seeds business.Stripping out the impact of new accounting standards, operating earnings before interest, tax, depreciation and amortisation rose 33 percent to $23.7 million and the company expects ann...

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