01/05/2019 - 09:59

Heytesbury posts $7.9m profit

01/05/2019 - 09:59

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Revenue at agribusiness Heytesbury Holding dropped 14 per cent to be $47.7 million in the year to December, but sales income was steady.

Heytesbury posts $7.9m profit
Cattle at Heytesbury's Moolooloo station in the Northern Territory. Photo: Heytesbury

Revenue at agribusiness Heytesbury Holding dropped 14 per cent to be $47.7 million in the year to December, but sales income was steady.

Heytesbury runs 160,000 cattle over six stations, and owns Vasse Felix winery.

It is the third largest shareholder in live cattle exporter Wellard, with an 11.4 per cent stake as of August 2018.

The business is owned by Paul Holmes A Court, and was founded by renowned WA tycoon Robert Holmes A Court.

Heytesbury lodged its annual report with the Australian Securities and Investments Commission yesterday.

With revenue of $47.7 million, the company would drop one spot on the BNiQ agribusiness list to be 28th.

Of that income, $19.3 million was from sales and nearly $29 million was attributed to changes in the composition and value of livestock at market prices at the commencement of the period, according to the annual report.

Profit was down $2.7 million to be $7.9 million, while assets were $378.2 million, an increase of $21 million.

The company said it paid a dividend of $115,000

Growing grapes

The latest Wine Australia data shows WA growers have had a strong 12 months.

The volume of wine exported grew 20 per cent to be 9.6 million litres in the year to March, about 1.2 per cent of all Australian exports by volume.

Only Queensland had a higher increase in volumes exported, up 34 per cent to 0.2ML.

Measured by value, WA exports were $65 million, up 6 per cent.

The top destination was China, with $19.8 million of shipments, up from $18 million in the year to March 2018.

Overall, Australian wine exports rose 5 per cent to be $2.8 billion, rounded.

Within WA, Margaret River sales fell 1 per cent to be $30.4 million, while production in the Great Southern was 9 per cent higher at $2.3 billion.

Those numbers should be treated with some caution, however.

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