PGG Wrightson Has Reported A 28% Drop In Annual Profit As Higher Debt And A Weaker Real Estate Market Weighed On Earnings – Stephen Guerin Joins Mark Leishman On Round Up

PGG Wrightson has reported a 28% drop in annual profit as higher debt and a weaker real estate market weighed on earnings. Profit fell to $17.5 million in the year to June 30, from $24.3m the previous year with Revenue advancing 2.4% to $976.2m. The firm’s debt almost doubled to $65.3m from $32.8m, pushing up its bank interest costs 377% to $4.6m. To give us his thoughts on the result Mark Leishman is joined by PGG Wrightson CEO Stephen Guerin on Round Up.