Allied Farmers forecasts mixed financial results for FY24

Allied Farmers has announced that its FY24 profitability will include a $4.2 million one-off gain on the book value of a sold asset.

It added that its operating businesses are expected to trade similarly to the previous year.

However, its results will also be affected by the full-year amortisation of the NZRLM Management Contract, interest on the Heartland loan it took out to buy the contract, suspension of dividends from the NZ Rural Land Company and costs related to strategic initiatives.

Allied Farmers advised that the financial results, subject to review and audit, will be disclosed by August 29, 2024.