Further 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

28 January 2022

announce@nzx.com


Further Market Update

On 20 December 2021 Allied Farmers Limited (“Allied Farmers” NZX: ALF) announced that
its forecast net profit before tax (NPBT) for the interim period ending 31 December 2021
(HY22) would be in a range of $1.0m to $1.2m.

Allied Farmers has increased its forecast HY22 NPBT range to $1.2m to $1.4m. This increase
is a result of Allied Farmers subsidiary, Farmers Meat Export Ltd’s (FMEL), HY22 pre-tax
contribution increasing by approximately $200,000 due to the sale in late December 2021 of
inventory that was expected to be sold in the second half of FY22.

Because this inventory would have sold in the second half of FY22, there is no impact on the
expected full year contribution from FMEL.

The following table summarises the updated pre-tax contribution over the previous interim
periods from Allied Farmers’ investments:

Interim
Period
(1 July – 31
December)
NZ Farmers
Livestock
(livestock agency +
finance)
($m)
Farmers Meat
Export
(veal processing)
($m)
NZ Rural Land
Management
(asset management)
($m)
Parent
Company
Costs
($m)
2017 0.5 0.1 - (0.3)
2018 0.6 0.9 - (0.2)
2019 0.7 1.0 - (0.4)
2020 0.6 0.2 - (0.3)
2021F 0.1 1.4 0.3 (0.4)


Mark Franklin
Chairman