News: Ruralco FY profit falls 7.5%

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Ruralco Holdings Limited (ASX:RHL) full year net profit has fallen by 7.5 per cent to $13.8 million.



The agribusiness had warned of a 10 per cent drop earlier this month due to lower revenue from its wool and livestock businesses.



The Tasmanian based company says weaker sheep and wool prices impacted its profitability. Ruralco also noted its Tasmanian residential real estate business was affected by the state’s soft economy.



The company declared a final fully franked dividend of 10 cents per share.