AFC Group (AFC) H1 2026 earnings summary

Executive summary

• Report covers the six months ended 30 September 2025, with comparative figures for the same period in 2024.

• Group operates in food, health, cosmetics, and winery sectors, with activities in New Zealand and China.

• Revenue for the six months ended 30 September 2025 was NZ$33,000, a 92% decrease year-over-year due to the completion of a major wine contract.

• Net loss widened to NZ$363,000 from NZ$156,000 in the prior comparable period, reflecting lower sales.

• The group is focusing on strengthening local distributor relationships, restoring vineyards, expanding sales channels, and exploring new business ventures such as mobile building projects.

Financial highlights

• Operating revenue fell sharply to $33,053 from $402,345 year-over-year, a 92% decline.

• Net loss widened to $363,640 from $156,912 year-over-year.

• Gross profit dropped to $291,535 from $4,788 year-over-year.

• Net assets turned negative at NZ$120,000, down 149% from 31 March 2025.

• No dividends declared or proposed for the period.

Outlook and guidance

• No significant seasonality or cyclicality expected, except for grape harvest timing in the winery segment.

• Plans to increase domestic sales and establish new partnerships in the second half of the year.

• Optimism for future growth as new business opportunities, such as the mobile building project, develop.

• Continued focus on operational efficiency and expanding presence in domestic and international markets.