{"id":46561,"date":"2013-10-04T23:08:40","date_gmt":"2013-10-04T13:08:40","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=46561"},"modified":"2020-09-10T17:07:11","modified_gmt":"2020-09-10T07:07:11","slug":"pca-records-8-12m-loss","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2013\/10\/04\/pca-records-8-12m-loss\/","title":{"rendered":"PCA Records $8.12m Loss"},"content":{"rendered":"
\"\"<\/a>
PCA Chairman Ian Langdon<\/figcaption><\/figure>\n

October 12, 2013<\/strong><\/p>\n

The Peanut Company of Australia has recorded a net loss of $8.12 million for the year ended March 31 despite revenue increasing by more than 11 per cent.<\/p>\n

The company’s annual report, released this week, blames a number of factors for the disappointing result, including a harvest below expectations, the high cost of importing peanuts and the $3.7 million in interest paid on a “not sustainable” debt level.<\/p>\n

This debt has now been substantially reduced with the recent $31.2 million NAB debt-for-equity deal.<\/p>\n

After two of the lowest intake years on record, the 2012 season crop size was 21,109 tonnes.<\/p>\n

PCA said this was an improvement on the previous two years but was still short of the levels required to service customers.<\/p>\n

The quality of the crop was also down, which resulted in a significant drop in edible kernel yield.<\/p>\n

The meant PCA had to supplement supply with imports, the cost of which remained high despite the strong Australian dollar.<\/p>\n

The annual report also noted that the value of various PCA assets had to be adjusted, including water rights, by more than $3 million, and “the gene pool asset” by $1.1 million. \u00a0These adjustments had also reduced revenue.<\/p>\n

Mr Langdon said the PCA Board had deliberately delayed the finalisation of the financial statements until the debt-for-equity transaction with NAB had been announced.<\/p>\n

He said that now buoyed by the announcement, directors and management were focussed on rebuilding shareholder value “from a revitalised balance sheet”.<\/p>\n

“PCA’s Board, management and staff would like to thank farmer suppliers and customers for their commitment to PCA during recent and extremely difficult years,” Mr Langdon said.<\/p>\n

“Through the continuing support of NAB, we have met all obligations to our growers as well as other suppliers of goods and services.<\/p>\n

“Due to the overwhelming support of shareholders at the Extraordinary General Meeting on September 27, I expect that confidence in PCA from all stakeholders will be enhanced and this in turn will be a catalyst for a new and profitable future.”<\/p>\n

In 2012, PCA recorded a loss of $6.4 million, up slightly on the previous year’s figure of $6.3 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Peanut Company of Australia has recorded a net loss of $8.12 million for the year ended March 31 despite revenue increasing by more than 11 per cent.<\/p>\n","protected":false},"author":20,"featured_media":46795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3,36],"tags":[1134],"yoast_head":"\nPCA Records $8.12m Loss - southburnett.com.au<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2013\/10\/04\/pca-records-8-12m-loss\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PCA Records $8.12m Loss - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"The Peanut Company of Australia has recorded a net loss of $8.12 million for the year ended March 31 despite revenue increasing by more than 11 per cent.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2013\/10\/04\/pca-records-8-12m-loss\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2013-10-04T13:08:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-10T07:07:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2013\/10\/ianlangdon-f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anne Miller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anne Miller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2013\/10\/04\/pca-records-8-12m-loss\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2013\/10\/04\/pca-records-8-12m-loss\/\",\"name\":\"PCA Records $8.12m Loss - southburnett.com.au\",\"isPartOf\":{\"@id\":\"https:\/\/southburnett.com.au\/news2\/#website\"},\"datePublished\":\"2013-10-04T13:08:40+00:00\",\"dateModified\":\"2020-09-10T07:07:11+00:00\",\"author\":{\"@id\":\"https:\/\/southburnett.com.au\/news2\/#\/schema\/person\/d43a5027bdddc95f54e9c6274d8a57ae\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/southburnett.com.au\/news2\/2013\/10\/04\/pca-records-8-12m-loss\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/#website\",\"url\":\"https:\/\/southburnett.com.au\/news2\/\",\"name\":\"southburnett.com.au\",\"description\":\"Kingaroy and South Burnett News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/southburnett.com.au\/news2\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-AU\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/#\/schema\/person\/d43a5027bdddc95f54e9c6274d8a57ae\",\"name\":\"Anne Miller\",\"url\":\"https:\/\/southburnett.com.au\/news2\/author\/anne-miller\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"PCA Records $8.12m Loss - southburnett.com.au","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/southburnett.com.au\/news2\/2013\/10\/04\/pca-records-8-12m-loss\/","og_locale":"en_US","og_type":"article","og_title":"PCA Records $8.12m Loss - southburnett.com.au","og_description":"The Peanut Company of Australia has recorded a net loss of $8.12 million for the year ended March 31 despite revenue increasing by more than 11 per cent.","og_url":"https:\/\/southburnett.com.au\/news2\/2013\/10\/04\/pca-records-8-12m-loss\/","og_site_name":"southburnett.com.au","article_published_time":"2013-10-04T13:08:40+00:00","article_modified_time":"2020-09-10T07:07:11+00:00","og_image":[{"width":"300","height":"200","url":"https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2013\/10\/ianlangdon-f.jpg","type":"image\/jpeg"}],"author":"Anne Miller","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anne Miller","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/southburnett.com.au\/news2\/2013\/10\/04\/pca-records-8-12m-loss\/","url":"https:\/\/southburnett.com.au\/news2\/2013\/10\/04\/pca-records-8-12m-loss\/","name":"PCA Records $8.12m Loss - southburnett.com.au","isPartOf":{"@id":"https:\/\/southburnett.com.au\/news2\/#website"},"datePublished":"2013-10-04T13:08:40+00:00","dateModified":"2020-09-10T07:07:11+00:00","author":{"@id":"https:\/\/southburnett.com.au\/news2\/#\/schema\/person\/d43a5027bdddc95f54e9c6274d8a57ae"},"inLanguage":"en-AU","potentialAction":[{"@type":"ReadAction","target":["https:\/\/southburnett.com.au\/news2\/2013\/10\/04\/pca-records-8-12m-loss\/"]}]},{"@type":"WebSite","@id":"https:\/\/southburnett.com.au\/news2\/#website","url":"https:\/\/southburnett.com.au\/news2\/","name":"southburnett.com.au","description":"Kingaroy and South Burnett News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/southburnett.com.au\/news2\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-AU"},{"@type":"Person","@id":"https:\/\/southburnett.com.au\/news2\/#\/schema\/person\/d43a5027bdddc95f54e9c6274d8a57ae","name":"Anne Miller","url":"https:\/\/southburnett.com.au\/news2\/author\/anne-miller\/"}]}},"_links":{"self":[{"href":"https:\/\/southburnett.com.au\/news2\/wp-json\/wp\/v2\/posts\/46561"}],"collection":[{"href":"https:\/\/southburnett.com.au\/news2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/southburnett.com.au\/news2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/southburnett.com.au\/news2\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/southburnett.com.au\/news2\/wp-json\/wp\/v2\/comments?post=46561"}],"version-history":[{"count":7,"href":"https:\/\/southburnett.com.au\/news2\/wp-json\/wp\/v2\/posts\/46561\/revisions"}],"predecessor-version":[{"id":46796,"href":"https:\/\/southburnett.com.au\/news2\/wp-json\/wp\/v2\/posts\/46561\/revisions\/46796"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/southburnett.com.au\/news2\/wp-json\/wp\/v2\/media\/46795"}],"wp:attachment":[{"href":"https:\/\/southburnett.com.au\/news2\/wp-json\/wp\/v2\/media?parent=46561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/southburnett.com.au\/news2\/wp-json\/wp\/v2\/categories?post=46561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/southburnett.com.au\/news2\/wp-json\/wp\/v2\/tags?post=46561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}