SYDNEY, Feb 24 (Reuters) - Shares in Australia’s biggest milk producer Murray Goulburn fell nine percent on Friday after the company posted a first-half net loss.
The company posted a net loss of A$31.9 million ($24.6 million) for the six months to end-December, compared with a net profit of A$10 million in the previous first half.
The shares were down A$0.085 at A$0.89 in early trading, while the broader market was generally flat. Murray Goulburn’s shares were issued at A$2.10 in an initial public offering in 2015. ($1 = 1.2960 Australian dollars) (Reporting by Byron Kaye; Editing by Richard Pullin)