Allied Farmers reports adjusted profit surge despite EPS decline

Allied Farmers Limited (ALF) reported an audited net profit after tax attributable to shareholders of $2.871 million for the year ended June 30, 2025. This was a decrease from $5.206 million in FY24. However, excluding a one-off gain in FY24, the FY25 adjusted profit after tax of $3.84 million represents a significant improvement from FY24's $2.690 million, primarily due to enhanced earnings from NZ Farmers Livestock Limited (NZFL).

Basic earnings per share decreased by 44.4% to 9.97 cents per share (FY24: 18.07 cps). The company’s unrecognised deferred tax assets from unused tax losses totaled $172,428,062 gross as of June 30, 2025. Allied Farmers also announced the conditional sale of its 67.77% stake in NZFL to Rural Livestock Limited for an enterprise value of $10.988 million, with completion targeted for December 1, 2025.

Total assets for Allied Farmers grew to $53,181 million in FY25, up from $39,155 million in FY24. The company continued its policy of not paying dividends, focusing on deploying earnings into growth opportunities that utilize its substantial tax losses.