The Australian Agricultural Company (ASX:AAC) has announced a 35% increase in operating profit to $67.4M in FY23.

The beef supplier said total revenue reached $313.M, a 14% improvement on the prior year, driven by brand supported price increases in all major markets.

It also said the herd has grown 13% vs pcp to 433k cattle.

The Australian Agricultural Company said strategic allocation of its Westholme and Darling Downs brands led to a 17% increase in Wagyu meat sales price on the prior year.

Progress on its sustainability activities continued in FY23, with the company on track for a full company-wide transition to solar energy by 2024.