Allied Farmers (ALF) H1 2026 earnings summary

Executive summary

• Achieved total comprehensive income of $4.26 million for the six months ended 31 December 2025, up from $2.28 million year-over-year.

• Reported unaudited consolidated profit after tax of $3.542 million for the six months ended 31 December 2025, up 44.75% year-over-year.

• Completed the sale of NZ Farmers Livestock Limited (NZFL), resulting in a gain on sale and reclassification of discontinued operations.

• Sale of 67.7% holding in NZFL completed on 1 December 2025, with proceeds received in cash.

• Focus shifting to rural asset management business and exploring new investment opportunities.

Financial highlights

• Profit attributable to shareholders rose to $3.82 million from $1.88 million year-over-year.

• Earnings per share (basic) increased to 13.25 cents from 6.54 cents year-over-year.

• Net cash and cash equivalents increased to $10.80 million from $9.66 million at 30 June 2025.

• Net tangible assets per share rose to $0.70 from $0.54 at 31 December 2024.

• No dividend declared for the period as tax losses are being utilized.

Outlook and guidance

• Management expects full recovery of NZFL loan book receivables by May 2026.

• Board will consider returning capital to shareholders if suitable investment opportunities do not arise.

• Focus on growth of rural asset management and complementary investments post-NZFL sale.