Market Update
24 July 2024
announce@nzx.com
MARKET UPDATE
Allied Farmers Limited (“Allied Farmers” or “Allied Group”) (ALF:NZX) advices that, subject to
technical accounting review and statutory audit:
• Allied Group profitability for the year to 30 June 2024 will include a $4.2 million one-off gain
on the book value of an Allied Group asset sold during FY24;
• Excluding the one-off gain, Allied Group’s operating businesses, NZ Rural Land Management
and NZ Farmers Livestock, both continue to trade profitably and combined their results will
be similar to FY23; and
• Allied Group FY24 profitability will be impacted by a full year amortisation of the NZRLM
Management Contract acquired in March 2023 (non-cash impact) together with interest on
the Heartland loan to fund the acquisition, suspension of dividends from the NZ Rural Land
Company, and costs associated with strategic initiatives such as the amendment to Allied
Farmers’ constitution to preserve tax losses.
Audited Financial results will be announced on or prior to 29 August 2024.
Shelley Ruha - Chair
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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