AWI takes $29m from reserves to ease budget woes

Vernon Graham
November 25 2019 - 7:07pm
IN A STEW: Australian Wool Innovation CEO, Stuart McCullough, said the company was being forced to dig into reserves to prop up its budget.
IN A STEW: Australian Wool Innovation CEO, Stuart McCullough, said the company was being forced to dig into reserves to prop up its budget.

Latest official forecasts of another 9.2 per cent cut in the national wool clip has forced Australian Wool Innovation to dig an extra $7.5 million out of its reserves to support this year's budget.

Vernon Graham

Vernon Graham

National machinery and property writer

Former editor of The Land, former Fairfax Media Agricultural Editor

Get the latest SA news in your inbox

Sign up for our newsletter to stay up to date.

We care about the protection of your data. Read our Privacy Policy.