Allied Farmers has reported a slightly lower net profit before tax (NPBT) of $1.95 million for the six months ended Dec 31 2023, compared to $2.13m in the same period the previous year.
The company's unaudited half-year 2024 report showed a profit attributable to Allied Farmers' shareholders of $1.42m, down from $1.59m in the previous corresponding period.
No dividend will be paid for the period as the company continues to utilise tax losses.
Allied Farmers' 67.7% ownership of NZ Farmers Livestock and 100% ownership of NZ Rural Land Management were cited as factors affecting the profit.
The company's estimated tax losses available at the end of December 2023 were $178.71 million.
NZ Farmers Livestock reported an improved half-year result, while NZ Rural Land Management did not complete any asset transactions during the period.
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