Allied Farmers (ALF) H2 2025 earnings summary

Executive summary

• Net profit before tax for FY25 was $4.065 million, down from $7.315 million in FY24 due to a one-off gain in the prior year.

• Net profit after tax attributable to shareholders was $2.87 million, compared to $5.206 million in FY24.

• Excluding the FY24 one-off gain, adjusted FY25 profit after tax was $3.84 million, up from $2.69 million in FY24.

Financial highlights

• Basic earnings per share decreased by 44.6% to 9.96 cents (FY24: 18.07 cps).

• Net tangible assets per share increased to $0.51 (FY24: $0.40).

• Five-year NPAT trend shows steady growth, excluding the FY24 one-off gain.

Outlook and guidance

• Focus remains on deploying earnings into growth opportunities to utilize tax losses.

• No dividend will be paid for FY25, continuing the policy to reinvest for growth.

• Early FY26 trading for NZFL is very positive despite some veal business softening.