May 22, 2018 Last Updated 7:58 AM, May 18, 2018

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CPC reports a $27m turnaround

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."

@AusBNOnline

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