01/04/2021 - 12:49

Forrest reaps a strong Harvest

01/04/2021 - 12:49

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Andrew Forrest’s agribusiness interests shook off the pandemic, with revenue at Harvest Road up 22 per cent to be $418 million.

Forrest reaps a strong Harvest

Andrew Forrest’s agribusiness interests shook off the pandemic, with revenue at Harvest Road up 22 per cent to be $418 million.

Harvest Road Group is a subsidiary of Mr Forrest’s Tattarang, and includes Harvest Road Beef, Leeuwin Coast seafood, and Harvest Road horticulture.

Almost the entirety of the revenue boost was driven by the cattle business.

Cattle sales were worth $413 million in 2020, according to Harvet’s annual report.

Shellfish sales were $408,000, and represented a new income line.

Harvest bought the assets of Ocean Foods International during the year.

Overall, net profit was $11.6 million, up from $4.8 million in 2019.

The business paid $4.7 million in corporate tax.

“While the pandemic had an effect on turnover, the impact was mitigated by the group’s ability to access multiple export markets for its products,” the report said.

Business News Data & Insights now shows Harvest Road is the fourth biggest agribusiness by revenue in WA.

The company has 734 staff, up more than 100 from last year.

Mr Forrest's other business interests including Fortescue Metals Group and the Western Force.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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