Half Year Results to 31 December 2021

Allied Farmers Limited has reported an unaudited consolidated net profit before tax of $1.438 million for the six months ended 31 December 2021, exceeding the updated HY22 NPBT range of $1.2m to $1.4m.

Profit attributable to Allied Farmers’s shareholders was $1.059 million, with earnings per share of $0.0368.

No dividend will be paid for the period, with Net Tangible Assets per share at $0.42.

Livestock Agency, Farmers Meat Export and Livestock Finance all reported higher than expected results, while NZ Rural Land Management GP Ltd (NZRLM) contributed $0.3m.

NZRLM is currently progressing due diligence on several new opportunities.

The Board is focusing on growth in earnings per share, and considering whether to call its option to acquire the remaining 50% of NZRLM.