In spite of increased revenue, AACO has posted a net loss after tax of $94.6 million for the 2024 financial year after a $4.6 million profit last financial year.
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However, the company says that its structure means that a $50.5m operating profit was a better method of assessing the health of the business.
The company battled difficult operating conditions, with cattle prices dropping to a four year low, and while the livestock giant spruiked an increase in meat sales volume and continued strong results in its branded Wagyu ventures, the overall beef market weighed heavily on company returns.
AACO executives urged investors to look at a solid operating profit.
There was a 25 per cent drop in operating profit for its 2024 financial year in its results announcement delivered this morning, but given FY23 was a record, officials were happy with the figures delivered this year.
AACO officials said the business's operating profit of $50.5 million for FY24 stacked up well to the record $67.4 million last year.
Revenue was also up, $336.1 million as against $313.4m last year.
AACO said the headline loss was not reflective of the business's health.
"Our statutory reporting requires the inclusion of the unrealised value of the herd at current market rates, however the company's supply chain and strategic direction focuses on selling branded beef into global markets, which is why operating profit and cash flow are more appropriate measures of financial performance," the company said in its statement to the Australian Stock Exchange.
The company said a drop in operating cash flow was also down year on year, which it attributed to a shift to aligning spending with key strategic priorities along with the target of the production of more liveweight kilograms.
Offsetting the drop in cashflow, the company highlighted a 5pc growth in its heard to around 455,000 head of cattle along with growth in numbers in the lucrative Wagyu space.
AACO managing director David Harris said in spite of a challenging year, the company had delivered resilient results.
"This FY 24 result demonstrates the value of our branded beef strategy," Mr Harris said.
"Market conditions were challenging but we are executing well on factors within our control and our brands continue to command premium prices in the market."
The share market had a muted reaction to the full year results, with a slight 1.77 per cent drop in the share price to $1.38 as of Wednesday lunchtime.