News: Ruralco's issues profit warning

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Ruralco Holdings Limited (ASX:RHL) expects its annual profit to fall as a result of lower livestock prices and lower sales of agricultural chemicals due to drought.

 

Ruralco expects its profit for the year to September 30, will range from a breakeven result to a $1 million loss.

 

Ruralco made a profit of $13.8 million in fiscal 2012.

 

Ruralco managing director John Maher says the business performed credibly in terms of activity volumes and cost management.

 

However performance was impacted by markedly lower livestock commodity prices and reduced first half agricultural chemical sales.

 

Ruralco produced a net profit of $1.6 million in the first half of the 2013 financial year.