THE nation’s largest beef producer, Australian Agricultural Co, says its outlook is improving after an “extremely poor” 2009 as higher cattle prices help cash flow and low grain prices boost its feedlot operations.
In his first results presentation since being named chief executive, David Farley said yesterday that he would focus on working capital and getting the right products to the right markets, concentrating on the live export and boxed-beef markets, The Australian Financial Review reports.
He was keen to move AAco towards cattle trading rather than just cattle producing, which has been the company’s traditional and more risky business strategy.
Mr Farley expected to reveal details of a strategic review, which is looking at risk management, before its annual meeting in May.
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