|
|
|
Timbercorp profit dips due to drought
16 Nov 2007
Timbercorp yesterday posted an after-tax profit of $65.7 million for the 2006-07 year, 17.5 per cent lower than last year's record profit. The agribusiness company said that it would defer development of new almond orchards due to the drought and water allocations had been cut for olives, citrus and grapes, however its mango, avocado and glasshouse operations were unaffected. While water allocations have been reduced in the Murray-Darling Basin the company believes that it has sufficient water for growth and to establish crops in 2008.
The Australian, 16/11/2007
|
|
