Allied Farmers more than doubles net profit

Mon, 30 Aug 2021

Allied Farmers more than doubled its full-year net profit as its investment diversification begins to bear fruit and the company said it won’t be undertaking an already approved share placement.“As we outlined last year, we have been heavily focused on both growing our underlying business and diversifying through targeted investment,” it said. The company said its net profit for the year to June 30 was $2.48 million versus $1.1m in the prior year. Revenue lifted 8% to $21.7m. The result is partly due to an impro...

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