Cattle and beef producer Australian Agricultural Company reported a net loss of $105.5 million for the first half of FY24 amid a challenging operating environment.

Total net revenue for the six months climbed to $167.1 million while operating profit amounted to $30.1 million due to in-market pressures.

AACo noted that while the reduction of cattle prices impacted performance, it only reflects herd value and has minimal impact on its operating income and cash flow.

Operating profit margin stood at 18%, while operating cash flow reached $2.6 million.