“Pastoral House Slump” were the attention grabbing headlines, according to the Milne’s Rural Business article of October 1991. In this article, all major pastoral houses across Australia recorded a huge downturn in revenue, highlighting a volatile period in the history of rural activities during the early nineties.
It certainly makes interesting reading, with Dalgety Farmers Limited recording a massive (at the time) loss of $54 million, after tax. Elders Limited took a huge $37.7 million loss, hit to their bottom line. Primac Holdings Ltd on the other hand, at least achieved a modest profit of $2.5 million, pre tax. Even though this was halved from the year prior, it displays the testament of just how well managed our company really was.
Wayne Fischer has kindly submitted this article, it is a worthy read, for all Gurus, to remind us just how cyclic our industry was, and probably still is.
