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Toowoomba-based agribusiness company PrimeAg has reported a multimillion dollar loss in its half-yearly results.
The listed company released the data yesterday, showing a $2.6 million loss.
PrimeAg is in the process of off-loading 60 per cent of its farmland to American assets manager TIAA-CREF for about $125 million.
Commonwealth Bank agribusiness analyst Jordan Rogers says the company's latest result is an improvement on last year.
"But still a pretty disappointing result," he said.
"What I would say though is the second half of PrimeAg's financial year is much more important given that it mainly harvests the cotton and the sorghum crop in that second half."
Topics: agribusiness, rural, toowoomba-4350
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