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Outlook rosy for AACo
8 Aug 2007
Beef producer Australian Agricultural Company yesterday announced a net profit of $5.9 million for the first half of 2007, saying that improved weather conditions and strong global demand for beef would boost the full year result. While the high dollar and increased grain prices were having a negative impact on expectations for future earnings, demand for beef is outstripping supply as the size of the US herd decreases. Land is becoming harder to find but there is an expectation that the Queensland government will allow other types of farming on land previously allocated for pastoral use. AACo said that they were "actively pursuing" ways to best take advantage of any changes.
The Australian, 8/08/2007
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