Australian Agricultural Company Ltd Decreasing production costs in 1H FY 17
Decreasing production costs in 1H FY 17: Australian Agricultural Company Ltd (ASX: AAC) stock has fallen 4.2% on January 31, 2017. The group has reported the net profit after tax of $47.9 million in the first half of FY 17, which is a $1.9 million fall on the previous corresponding period. The sales revenue fell by $46.6 million to $214.1 million in 1H FY 17 on the back of rising Wagyu days on feed which had limited Wagyu product available for sale. However, the revenue reductions were partially offset by the improved pricing of the Wagyu products as well as higher sales from Livingstone Beef. Moreover, AAC has reported a 25% reduction in production costs as the company got advantage of the strong seasonal conditions. AAC improved margins due to the reduction in the production cost.
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