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PGG Wrightson (PGW) briefings
Read that company's published results in release order, newest first.
Full-year NPAT rose 45.8% but the second half swung to a loss
Revenue grew 10.2% and EBITDA 14.6%, but nearly all of FY26's profit was earned in the first half, with trade debtors up 22.2%.
Published 11 August 2026
Read briefingPBT up 11.5% but net debt jumped to $170.7m as cash outflow widened
Operating cash outflow worsened 60.8% and leverage stepped to 3.7x EBITDA — note the OCF/EBITDA basis is denominator-distorted this period, so this should not be read as a normal cash-conversion signal — while the board raised the interim dividend 80% to 4.5cps.
Published 20 April 2026
Read briefingEBITDA up 27% but operating cash fell 79% on working-capital build
The agri-sector earnings recovery is real at the operating line, but $23.8m of working-capital absorption pushed cash conversion to 22.1% and lifted
Published 20 April 2026
Read briefingPGW EBITDA up 13% like-for-like as receivable days jump to 100
Headline 65% EBITDA gain and 16.6% revenue decline both reflect a portfolio change, while receivables ballooned $114m and the dividend was cut 64%.
Published 21 April 2026
Read briefingPBT down 78% and the dividend cancelled at PGW
FY24 met the $43m EBITDA guide but H2 NPAT turned negative and the cash rebound was driven by a $17.4m working-capital release.
Published 21 April 2026
Read briefingEBITDA fell 23.5% and interim dividend cut to zero; FY24 guide ~$50m
Earnings power weakened, leverage rose to 2.6x net debt/EBITDA, and FY24 guidance trails FY23's $61.2m; cash-conversion metrics for the period are denominator-distorted and are not read here as a normal quality signal.
Published 22 April 2026
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