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Sale boost PGG Wrightson

Boosted by the sale proceeds of the seed and grain business PGG Wrightson reported a 30 June 2019 annual Operating EBITDA of $24.4 million (FY18 $34.5 million) and a record net profit after tax (NPAT) of $131.8 million (FY18 $18.9 million).

PGW Chairman Rodger Finlay said, “FY2019 has been a transformational year for PGW, both for the business and shareholders.

“The change brought about by the sale of the Seed & Grain business completed on 1 May 2019 was significant for PGW with the proceeds from the transaction paving the way for a capital distribution to shareholders of approximately $234.0 million.”

“Our strategic relationship with the new owners of Seed & Grain, DLF Seeds A/S, is a positive one. While this deal has been transformational for PGW, it remains very much business as usual for our frontline staff and our customers.

We will continue to work closely with the PGG Wrightson Seeds team to bring their products to our customers, and the seed category will continue to be profitable for our retail business.”

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