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Queensland Cotton spins an increased marker share
26 Oct 2004
Queensland Cotton said its net profit almost doubled to $4.2 million over the half year to August 2004, in a reflection of the easing drought conditions in Australia's cotton growing regions. EBIT increased by 41 per cent to $7.8 million. Chief executive Richard Haire said the company's Australian ginning volumes doubled to about 475,000 bales and he expected the company turnover to increase by 20 per cent to 490,000 bales for the year ending February 2005. He said he expected Queensland Cotton a national market share to reach 32 per cent, the highest market share in the company's history.
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