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Company News Summary

Australian Agricultural Company Notes on the Impact of Qld Floods

11 Feb 2019  |  10:08:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Impact of Queensland Floods

Australian Agricultural Company confirmed heavy rain and severe flooding throughout northwestern Qld had severely impacted four of the Company's 21 properties. The four properties have been subject to unprecedented levels of flooding not seen before in the Gulf region. The Company's immediate focus is on its people, the welfare of its animals and the tight knit communities in which it operates. The full effects of the flood are being managed and measured in real time. All its staff and their families on the impacted properties are safe. The overall impact of these seasonal conditions on the Company's financial earnings for the 2019 financial year (ending March 2019) is expected to be material, and management is working through an evaluation of the situation.

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