For the year ended 30 June 2016, Rural Funds Group reported a 168 per cent increase in earnings per unit to 22.46 cents. Net asset value per unit of $1.43 was up 17 per cent on the previous corresponding period. Both of these metrics were predominantly driven by positive valuations received on our mature almond orchards.
?FY16 was a busy period for the Rural Funds Group. In October last year the company raised $35 million to fund the acquisition and establishment of a 1,500 hectare almond orchard called , located on the south side of the Murrumbidgee River in NSW.
In February, RFF announced the investment in Perth Markets and in March the acquisition of 259 hectares of Macadamia orchards at Bundaberg in Queensland. These key events, provide the foundation to many of the gains made by RFF in the past financial year and improved forecasts for FY17.