Allied Farmers reports 27.8% profit increase

Allied Farmers has reported a 27.8% increase in consolidated net profit before tax for the six months ended December 31, 2024.

The unaudited result was $2.48 million, compared to $1.9m in the same period last year.

After tax profit attributable to Allied Farmers' shareholders was $1.88m, up from $1.42m.

Allied Farmers did not declare a dividend for the period, citing the continued utilisation of tax losses.

The estimated tax losses available as of December 31, 2024, were $175.76m.

The company said its ability to utilise the tax losses is dependent on meeting shareholder continuity requirements.