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Article: PGG WRIGHTSON; Dairy boom to continue
- Article from:
- The Press
- Article date:
- February 20, 2008
- Author:
CopyrightCopyright 2008 The Press. Provided by ProQuest LLC. (Hide copyright information)
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Christchurch's PGG Wrightson believes the dairy boom will
continue for another year, given the drought, with farmers being net
winners from the big dry.
PGG Wrightson yesterday posted a 68 per cent jump in interim net
earnings to $34.6 million, from the 2006 December half, helped by
one-off items mainly from its Uruguayan dairy spin-off. Excluding
the one-offs, the bottom line profit was up about 15% from 2006's
$20.6m.
The interim dividend has been raised from 4c to a fully imputed
5c a share, payable on April 1.
PGG wants to take more advantage of its exposure to the dairy
boom, given that with the high kiwi dollar and low sheep prices some
farmers are in their worst position for 50 ...