Agribusiness company AWB has temporarily halted trading in its shares, pending an announcement to the Australian Securities Exchange about its operations in South America.
The company is also flagging an announcement about its full-year trading expectations.
AWB Brazil, set up three years ago at a cost of about $250 million, traded in soy beans and corn products, and also had interests in lot-fed cattle
Earlier this year, AWB announced that a number of accounting errors had been uncovered during a review of the Brazilian operations.The losses contributed to AWB's poor first half profits, which fell by more than 60 per cent to $8.54 million
The company is also flagging an announcement about its full-year trading expectations.
AWB Brazil, set up three years ago at a cost of about $250 million, traded in soy beans and corn products, and also had interests in lot-fed cattle
Earlier this year, AWB announced that a number of accounting errors had been uncovered during a review of the Brazilian operations.The losses contributed to AWB's poor first half profits, which fell by more than 60 per cent to $8.54 million
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