PGG Wrightson axes dividend
Previous payouts were unsustainable, company says, as half year net profit falls 40%.
A tougher environment for farmers has fed into weaker results for the farm services business.
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Farm services company PGG Wrightson has canned its interim dividend citing weak economic conditions in the agriculture sector and concern about debt levels.
Announcing net profit down 40% to $12.7 million for the half year to December, the company said it was prudent to retain cash rather than pay a
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