Rural Equities doubles annual profit on record milk production and prices

Tue, 02 Sep 2014

By Suze Metherell Sept. 3 (BusinessDesk) - Rural Equities, the farming group controlled by the Cushing family, doubled annual profit and lifted its dividend 17 percent on the back of record dairy production and prices. Profit rose to $24 million in the 12 months ended June 30, up from $10.9 million a year earlier, the Hastings-based company said in a statement. Operating earnings before interest and tax doubled to $6.43 million from $3.33 million, as its six dairy farms produced a record 1.67 million kilograms of milk solids and the price...

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