Beef sales help AACo turn fortunes around - leatherbiz: Leading news s Leatherbiz

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Beef sales help AACo turn fortunes around

15/05/2015
The Australian Agricultural Company (AACo) has “transformed from a pastoral company to a beef company” as it turned its fortunes around from a loss in 2013.

For the year that ended March 31, 2015, it earned $9.6 million in profit, compared with a $40 million loss in the preceding 12 months.

AACo managing director Jason Strong said: “We are implementing the strategy we announced last July. Sales of boxed beef sales ($267 million) now make up 77% of revenue compared with 59% the year before. These sales are into global markets where our traceable supply chains, sustainable practices and Australian heritage can command premium paces. Growing our brands is the next stage of transforming and growing our business.”

Related stories:

AACo net profit jumps $58 million 25/05/2016
China to boost hides access with Australian live cattle deal 21/07/2015
China’s restrictions hold US beef industry back 09/07/2015
Loss-making AACo relies on premium beef to offset difficult conditions 25/06/2014
Drought and Indonesia woes push AACo to a first-half loss 07/11/2013
AACo begins search for new CEO 05/08/2013
AACo in $44m cattle writedown 03/05/2013
AACo claims its herd is biggest in Australia’s history 18/03/2013
Australia claims high demand in Asia for its beef 12/02/2013
Australian beef producers continue to struggle 11/02/2010
Uncertain outlook at AAco 04/06/2009

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