Market Update
Allied Farmers Ltd
201 Broadway, Stratford, 4332
PO Box 304, Stratford 4352
Phone: 06 765 6199
Web: www.alliedfarmers.co.nz
Email: headoffice@alliedfarmers.co.nz
18 March 2020
announce@nzx.com
MARKET UPDATE
Further to the update provided on 26 February 2020, the Directors of Allied Farmers Limited
(NZX:ALF) reiterate the material and continuing Covid-19 uncertainties and drought-related
effects impacting the business.
The performance in the first quarter of calendar year 2020 to date has reflected appreciable but
manageable drought related profit impacts. There are some early signs that the drought
conditions may be abating, and we would expect some recovery in trading as that occurs.
The Covid-19 effects and uncertainties globally are also weighing on pricing and supply chains.
Given these factors, it is expected that the FY20 second half result will be significantly below the
FY19 second half result. The FY20 first half result was solid, however with most livestock income
usually occurring in the second half of the financial year, it is expected that the FY20 full year
result will be significantly lower than the FY19 full year result.
Directors are comfortable with the position and strength of the Allied Farmers business, and
continue to remain positive about the long term prospects for the Group.
Mark Benseman,
Chairperson
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