Peanut pinch

PEANUT Company of Australia (PCA) has posted a loss of more than $6.4 million this financial year.

The announcement comes after client Darrell Lea went into voluntary administration earlier this week.

PCA chief operating officer John Howard said there were three main reasons for the peanut company's loss.

"The three biggest issues are PCA has been subjected to the second lowest intake on record of farmers' stock this financial year, the sale finalisation of our Northern Territory properties and the near record levels of pricing when purchasing imported goods to satisfy customer demand," he said.

Mr Howard said the sale of the Northern Territory properties was necessary as it removed distractions to help focus the company on their core business and to reduce debt.

Peanut farmer Warren Jones said PCA reporting a loss was a surprise to him.

"We used to send all our peanuts there, but now we send them to places interstate," he said.

"They offered a good price this year so we supplied to them - it's surprising they've posted a loss this year."

Mr Howard said he hoped PCA would see a significant turnaround in the coming year, which would be driven by increased domestic crop.

"We believe improved seasonal conditions will definitely help in the future," he said.

As for Darrell Lea's announced administration, Mr Howard said the impact on PCA was yet to be seen.

"We will be in discussions with the appointed administrators of Darrell Lea to see what happens and identify the next steps," he said.

Peanut farmer Wayne Weller said he believed the impact of Darrell Lea on PCA's operations depended on how much the peanut company relied on the chocolate manufacturer.

"PCA don't need any more financial pressure at the moment," he said.

"If the administrators have a quick sale, Darrell Lea will trade on, which shouldn't affect PCA sales."

South Burnett

Queen sits alone as William, Harry show surprising unity

Premium Content Queen sits alone as William, Harry show surprising unity

The Queen has farewelled Prince Philip during an emotional funeral

Emergency declared after 25 motorcyclists die

Premium Content Emergency declared after 25 motorcyclists die

Police and the government have taken the ‘extraordinary step’ of warning 220,000...

Thief nicks $60 worth of pokies winnings at pub

Premium Content Thief nicks $60 worth of pokies winnings at pub

An opportunistic Dalby thief’s sticky fingers were heard in court, after he...