Interviews
News Flash
Queensland Cotton declares $3mn cut in profit forecast
05 Feb '07
1 min read
Poor performance of its business units owing to drought has led Queensland Cotton to announce a $3 million slash in the earlier forecast of annual net operating profit.
Queensland Cotton, the largest diversified cotton group in Australia, has declared the amended operating profit after tax forecast for financial year ending February 28, 2007 to be between $2 million and $4 million, which is $3 million less than previously predicted.
Activities of the company's seed, pulse and rural merchandizing facilities have been hampered by prolonged drought conditions.
Heavy trading income from this season's cotton produce could be obtained in the next fiscal instead of the current one because US has cancelled the primary export subsidy program. US cotton exports to global markets have declined as a consequence.
Queensland Cotton, the largest diversified cotton group in Australia, has declared the amended operating profit after tax forecast for financial year ending February 28, 2007 to be between $2 million and $4 million, which is $3 million less than previously predicted.
Activities of the company's seed, pulse and rural merchandizing facilities have been hampered by prolonged drought conditions.
Heavy trading income from this season's cotton produce could be obtained in the next fiscal instead of the current one because US has cancelled the primary export subsidy program. US cotton exports to global markets have declined as a consequence.
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
