Allied Farmers Limited (NS) Analysis

Overview

Allied Farmers Limited and its subsidiaries NZ Farmers Livestock Ltd, Farmers Meat Export Ltd and NZ Farmers Livestock Finance Ltd are a rural services group, with its predominant activities comprising the sale of livestock agency services, the procurement and processing of calves, and the provision of livestock financing.

Performance

The following information was extracted from Allied Farmers Limited's full year report, released on 28 August 2025:

FY25 Results Commentary

The Directors of Allied Farmers Limited (“Allied Farmers” or “Allied Group”) (ALF:NZX) are pleased to report an unaudited net profit before tax for the year to 30 June 2025 of $4.065 million (FY24 $7.315 million), with an unaudited net profit after tax attributable to Allied Farmers’ shareholders of $2.87 million (FY24 $5.206 million).

FY25 profit was lower than the previous comparable period due to the one-off $4.2 million gain on the book value of the sale and licence back by NZ Farmers Livestock Limited of its interest in the Frankton saleyards, of which $2.85 million was attributable to Allied Farmers’ shareholders.

Excluding this one-off gain in FY24, Allied Group’s FY25 profit after tax of $3.84 million is substantially higher than FY24 adjusted profit after tax of $2.690 million, primarily due to NZ Farmers Livestock Limited’s earnings being significantly improved from the comparative period. NZ Rural Land Management Limited (NZRLM) earnings were similar to FY24, and improved contributions were obtained from Allied Farmer’s investments and a rural loan.