Wednesday, December 6, 2023

PGW closes financial year strongly

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Fourth quarter trading exceeds expectations in most business units.
PGG Wrightson’s trading performance was its second strongest since the divestment of PGW Seeds.
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PGG Wrightson has increased its guidance for operating earnings in the financial year just ended from $57 million to $60m.

Acting chair U Kean Seng said the rural servicing company continued to deliver pleasing operational performance in the fourth quarter of the 2023 financial year ended June 30.

The guidance remains subject to audit and PGG Wrightson will release its annual results on August 15.

“Our fourth quarter trading has exceeded expectations in most business units with retail, livestock, wool and water all experiencing solid demand. 

“The one exception was our real estate business which continues to operate in challenging market conditions,” U said.

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