Rural services firm PGG Wrightson downgrades earnings forecast to $43M due to worsening market conditions.
Rural services firm PGG Wrightson has downgraded its earnings forecasts due to worsening market conditions. The company now expects its operating EBITDA to be around $43 million for the current financial year, down from a previous guidance of $50 million. Trading conditions have deteriorated due to factors such as drought, low sheep meat demand, high interest rates, and delays between sales and income for producers.
April 18, 2024
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