Allied Farmers' FY25 profit declines due to absence of one-off gain

Allied Farmers Limited announced an unaudited net profit before tax of NZ$4.065 million for the year ended June 30, 2025, down from NZ$7.315 million in FY24. The net profit after tax attributable to shareholders also decreased to NZ$2.87 million from NZ$5.206 million. This decline is largely attributed to the absence of a one-off NZ$4.2 million gain from the sale and license back of NZ Farmers Livestock Limited's interest in the Frankton saleyards in FY24.

Excluding this one-off gain, the adjusted FY25 profit after tax of NZ$3.84 million was substantially higher than FY24's adjusted profit of NZ$2.690 million, driven by improved earnings from NZ Farmers Livestock Limited and contributions from investments and a rural loan. Basic earnings per share decreased by 44.6% to 9.96 cents per share, while net tangible assets per share increased to NZ$0.51 from NZ$0.40.

The board continued to focus on asset allocation for long-term value growth and tax loss utilization, choosing not to pay dividends for FY25. During the year, Allied Farmers acquired land and buildings for NZ$10.5 million and advanced a NZ$3 million loan to a dairy farming operation.