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.
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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