Trading was holding up well, despite lower forecast dairy payouts and there were signs now of some softness in spending in the sector, managing director Mark Dewdney said.
The first half trading to December 31 would be strong compared to the corresponding time last year when the earnings before interest, tax, depreciation and amortisation (Ebitda) were $22.3 million.
Retail revenue was weighted towards the first half and the division had performed well, including market share gains and a focus on customers.
New Zealand Seeds had also had a strong spring season.
Market conditions highlighted the benefit of the company’s diverse product and service portfolio, Dewdney said.
Confidence remained high in the sheep and beef sectors and that strength would mean the business was well placed if there was reduced dairy-related spending over the second half of the year.
The company would provide further guidance when the half-year results were reported on February 24. Wrightson shares rose 0.5c to 45c on the NZX after the latest trading update.
The Livestock, Seeds Australia and South America divisions all made their largest profit contributions in the second half of the year and were subject to weather and commodity prices.
Dewdney told shareholders at the annual meeting in October directors were confident of exceeding the Ebitda of $58.7m achieved in the June 2014 year. That result had exceeded the forecast of between $52m and $56m made at the half year reporting time.
