AusBN – Consolidated Pastoral Company is hoping that it’s recent A$27 million turnaround in financial fortunes will help it to attract new investors.
The company, which is Australia’s largest privately-owned cattle business, was led into the black by a combination of cost restructuring, strong growth in export markets and increased cattle prices.
A net profit of $1 million was reported by the company for the year ending in March 2015, which was up from the $26 million net loss recorded the previous year.
CEO Troy Setter said: "In July 2014 we were in a pretty tough position for the business.
"But we've [had] great teamwork to turn that around."
"We've had considerable interest in CPC from a variety of parties both offshore and domestic.
"We'll certainly have a look at Kidman, there's parts of it that interest us, but we were committed to raising equity well before Kidman came onto the market."