But demand for beef protein in Australia and around the world remains strong, giving Australian Agriculture Co, or AACo, positive momentum as it enters its 2027 fiscal year.
AACo generated a bottom-line net profit of $107.3 million in fiscal 2026, in a major turnaround from last year's $1.1 million loss.
Its preferred operating profit measure came to $71.6 million, up 23 per cent, on higher revenue of $422.1 million for the year ended March 31.
Beef sales totalled $314.4 million, up seven per cent, while cattle sales came to $107.7 million, up 15 per cent.
The impact of the flooding in north Queensland in March, which severely affected several of its cattle properties, cost $9 million and impacted its operating result.
Some 7000 cattle, with a market value of about $13 million, died, as AACo stumped up for flood-related repairs, helicopter mustering and fodder drops.
At the same time, some of the impact of flooding was offset by higher cattle prices.
"The company's results over recent years demonstrate its trajectory of growth that we will aim to continue building on as we move into the new year," chief executive David Harris said.
Looking ahead, the headwinds that began in February when the US attacked Iran, and increased energy, transport and production costs, will impact in 2027.
"Whilst the duration and conditions remain uncertain, this is expected to have an impact on our global supply chain," AACo said.
However, demand for protein continues to grow and AACo said it's well-positioned to take advantage of this, building on its reputation for consistently providing high-quality products at scale.Â
"We'll move into the next period united, engaged and confident in what we can achieve," Mr Harris said.
AACo owns and operates 22 cattle stations, two feedlots and farms covering about 6.4 million hectares across Queensland and the Northern Territory.
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