Wrightson's profit improves in third quarter

Friday 19th April 2002

The farming boom helped Wrightson Group improve its performance with a net profit increase of 45% to $16.6 million for the nine months ended March 2002.

Last year the group posted a full-year net profit after tax of $10.7 million.

The result also reflects a lift in earnings since the group's six-month result, which was net profit after tax of $6.3 million.

Wrightson chairman John Palmer said the improvement in earnings reflected a strong performance across the group's businesses in this country and its Australian seeds business.

Mr Palmer said the company had no explanation for the recent decline in its share price.

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