[28 February/Otago Daily Times]

PGG Wrightson had posted its best first-half EBITDA result in a decade, and PGW Chairman, Alan Lai, said that he expected the strength to continue, forecasting operating EBITDA to exceed 2017’s result and be in the $65 to $70 million range. An interim dividend of 1.75c per share was announced to be paid to shareholders on April 5. PGW Chief Executive, Ian Glasson, noted that the livestock business benefited from international demand for protein. The retail and water group increased its EBITDA by 25 percent over the same period last year. The New Zealand seed and grain business also had positive results, majorly due to the favourable weather conditions in spring. Mr Glasson explained that the company was confident about the second half of the financial year, and was optimistic that the positive trading environment would continue.