Market Update

Allied Farmers Ltd
201 Broadway, Stratford, 4332
PO Box 304, Stratford 4352

Phone: 06 765 6199
Web: http://www.alliedfarmers.co.nz
Email: headoffice@alliedfarmers.co.nz


11 June 2019

announce@nzx.com

MARKET UPDATE

Allied Farmers Limited (NZX:ALF) is pleased to advise that, with full visibility of the impact of the
highly-influential herd sales during May 2019, it can now project that its operating earnings for
the year ending 30 June 2019 are likely to be generally consistent with 2018’s strong operating
earnings.

In commenting on the projection, Chairperson Mr Mark Benseman said “given the livestock
business remains challenging and with farmer caution related to Mycoplasma bovis, climatic
challenges in the earlier part of the second half and some late softening of cattle pricing, to
project a repeat of such strong operating earnings, in a far more difficult year, is very pleasing and
a credit to the management and staff”.


Allied Farmers Limited’s livestock agency business, New Zealand Farmers Livestock Limited,
continues to build its national presence and to develop its supporting MyLivestock digital
platform, and to work with farmers for farmers.


The Directors highlight that the reported financial result for the year ended 30 June 2018 included
a one-off gain which will not be repeated. A lower level of abnormal items is anticipated in the
financial result for the year ending 30 June 2019, meaning the reported result after abnormal
items is currently projected to be lower than the equivalent 2018 result.

It is anticipated that audited financial result for the year ending 30 June 2019 will be released in
late August.

Mark Benseman

Chairperson