Half Year Results to 31 December 2022

Allied Farmers Limited reported a consolidated net profit before tax of $2.097 million for the six months ended 31 December 2022, an increase of 46% compared to the same period in 2021.

Profit attributable to Allied Farmers' shareholders was $1.585 million, with earnings per share of $0.055.

The company continues to retain capital and no dividend will be paid, while net tangible assets per share stand at $0.54.

New Zealand Farmers Livestock Limited reported a significantly improved result, while New Zealand Rural Land Management Limited Partnership reported earnings of $834,000 for the period ending 31 December 2022, with Allied Farmers as 50% owner of NZRLM reporting earnings from NZRLM of $417,000.