NZ's PGG Wrightson H1 profit grows strongly

WELLINGTON Mon Feb 24, 2014 9:01pm EST

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WELLINGTON Feb 25 (Reuters) - New Zealand agricultural services company PGG Wrightson Ltd said on Tuesday its first-half profit nearly tripled on increased sales.

The company, which sells supplies and advisory services to farmers, reported a net profit after tax of NZ$13.4 million ($11.1 million) compared with NZ$4.8 million a year ago.

The company, majority owned by China's Agria, reaffirmed its forecast of full-year operating earnings before interest, tax, depreciation, and amortisation (EBITDA) at between NZ$52 million to NZ$56 million.

It declared a dividend of 2 cents a share compared with last year's 2.2 cents.

($1 = 1.2037 New Zealand dollars) (Gyles Beckford)