Wrightson profit growth stalls in first half as cautious farmers spend less

Mon, 20 Feb 2017

By Jonathan Underhill Feb. 21 (BusinessDesk) - PGG Wrightson's profit growth stalled in the first half, which the rural services company blamed on low prices for dairy and wool and reduced production of red meat which had made farmers more cautious about spending. Profit fell to $15.99 million in the six months ended Dec. 31, from $16.07 million a year earlier, the Christchurch-based company said in a statement. Sales declined to $608 million from $623 million. Sales and earnings fell at both the rural services and the smaller seed & g...

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