News State QLD News S. Kidman and Co point to cattle prices for loss

S. Kidman and Co point to cattle prices for loss

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The cattle company, S. Kidman and Company, has made a fiscal year loss of $3.3 million after tax due to depressed cattle prices.

The results were handed down by the board which runs 18 properties across the Kimberley, Northern Territory, Queensland and South Australia.

CEO Greg Campbell says drought conditions have also made management difficult, mainly in western Queensland.

“It started off pretty well with a big legacy of grass after three consecutive good seasons.

“But it’s faded pretty fast after the failure of a wet season this year.

“So we have been in the same situation as most, selling down pretty heavily, shifting steers into feedlots and finding it difficult to place weaners.”

But Mr Campbell says Kidman’s herd numbers are only just coming back to average, a result possible due to a decent season in the east Kimberley and western Barkly Tableland as well as agistment in South Australia.

A net operating cash flow of $19.1 million last financial year was also reported.