Agricultural company Yates intends to sell its Yates Botanical Pty Ltd and Commercial Flower Seed business as a joint unit following a recent strategic review. Directors believed that the sale of the business would allow them to focus on the core dry packaged gardening goods product that account for more than 60% of total turnover. Yates said that whilst both businesses were profitable the sale would release cash that could be used to further strengthen the balance sheet and to fund acquisitions in the core area.
