AFC Group (AFC) H1 2025 earnings summary

Executive summary

• Report covers six months ended 30 September 2024, with continued operations in food, health, cosmetics, and winery sectors in New Zealand and China.

• Revenue for the six months ended 30 September 2024 was $402,345, down 18% year-over-year due to lower domestic wine sales.

• Group recorded a net loss of $156,912, widening from $125,791 loss in the prior year period.

• No dividends declared or proposed for the period.

Financial highlights

• Operating revenue was $402,345, down from $489,319 year-over-year, primarily from weaker domestic wine sales.

• Gross profit declined to $291,535 from $386,603 year-over-year.

• Operating loss was $98,224, similar to $99,248 loss in the prior year.

• Net assets stood at $271,468, a 37% decrease from 31 March 2024.

• Cash and cash equivalents decreased to $3,206 from $26,181 at prior year-end.

Outlook and guidance

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

• Focus on strengthening collaboration with local distributors to boost domestic wine sales in the second half of the year.

• Optimism about future growth from new business ventures, including a mobile building project.

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

• No significant events after the reporting period.