BIG beef business, Australian Agricultural Company (AACo) has posted a 40 per cent lift in its earnings before interest tax, depreciation and amortisation (EBITDA) of $58.1 million for 2011.
Its pastoral division, including cropping operations, proved to be a particularly strong performer achieving revenue growth of 52 per cent in the 12 months to December 31.
The result demonstrated the company's turnaround strategy was gaining momentum and AACo was establishing a strong platform for maximising business performance, said managing director David Farley.
Increased pasture levels as a result of excellent seasonal conditions coupled with stronger global beef prices helped contribute to a company focus on increasing both herd levels and weight gain.
David Farley deserves credit for his excellent management.
The current seasonal conditions indicate a six to eight month grassload across AACo properties, mitigating short term risk in case of a return to drought conditions, Mr Farley said.
Source: farmonline.com.au
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