| Business performance 2013–14
The 2013–14 cash operating result1 for all businesses was a loss of $618,417. A total of 1,700 cattle (1,049 from NT and 651 from WA) budgeted to be sold before 30 June 2014 were sold in July-August 2014 for a total of $1,020,408. If these had been sold in time as budgeted, the total cash operating result for the combined businesses would have been a surplus of approximately $300,000.
The two principal reasons for the actual result were that total cattle sales revenue was less than budgeted as fewer cattle were sold in Queensland and the NT than usual, and the average price for cattle sold in Queensland was less than expected. While average prices received for all ILC cattle sold during 2013–14 were higher than in either of the preceding financial years, approximately 2,000 fewer head of cattle were sold in 2013–14. The reasons for this were: road access problems at Merepah prevented delivery of cattle before 30 June 2014; delays in live export boats in Darwin prevented planned sales of Gunbalanya Station cattle; and low cattle prices in Queensland prompted a change in strategy to holding cattle on two properties pending an improvement in the market.
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