AACo widens H1 loss

Agricultural group widens first-half loss as domestic cattle prices slump.

The Australian Agricultural Company (AACo) has significantly widened its first-half loss as dry conditions, falling cattle prices and a ban on live exports continue to weigh, however the group remained optimistic its strategic overhaul announced earlier in the year was progressing to plan.

In the six months to September 30 2013, Australia's largest beef producer posted a net loss after tax of $31.6 million, compared to a $18.7 million loss in the previous corresponding period.

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