This article is from the Australian Property Journal archive
THE Rural Funds Group has reaffirmed its previous forecast distribution growth of 4% for FY16 of 8.93 cpu.
Rural Funds delivered a net profit before income tax of $5.2m up from $3.9m for the previous corresponding period, largely due to increased revenue.
Adjusted funds from operations (AFFO) was $6.2m and distributions of 4.3 cents per unit in line with previous forecast.
Managing director David Bryant said the group is looking for diversification opportunities and is exploring the economics of the cattle industry.
“The macadamia orchards once acquired and wholesale agricultural market opportunities, while modest initial investments, are a measured step into these sectors.
“In the case of macadamias in particular, this is a logical extension of RFF’s existing tree nut exposure and a continuation of our strategy of identifying sectors in which we can leverage our existing farming expertise. These acquisitions add to the climatic diversification of the portfolio,” he added.
Australian Property Journal
