Rural Equities: Fonterra's increased payout forecast will be 'beneficial'

Rural Equities supplies Fonterra and Synlait. (Image: NZME)

Wed, 04 Sep 2024

Rural Equities expects the rural property market to remain subdued but says the recent lift in Fonterra’s forecast payout will be beneficial.The farm investment group, majority owned by the Cushing family, reported a total comprehensive income of $2.7 million in the year ended June, up from $719,000 the year prior.The company, listed on the Unlisted Securities Exchange (USX), had operating earnings before interest and tax (ebit) of $7.6m, down from $8.1m the year prior.Rural Equities’ gain on milk price derivatives for the 12 months...

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