Rural Funds Group Reports Audited Consolidated Earnings Results for the Year Ended 30 June 2020
August 24, 2020 at 07:45 pm EDT
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Rural Funds Group reported audited consolidated earnings results for the year ended 30 June 2020. For the period, the company reported Revenues from continuing operations of AUD 66,818,000. Revenues from ordinary activities was AUD 71,978,000 compared to AUD 66,391,000 a year ago. Net profit after income tax was AUD 48,988,000 compared to AUD 33,355,000 a year ago. Earnings (total comprehensive income) per unit increase of 82% to 18.4 cents compared to 10.14 cents a year ago. Total comprehensive income was AUD 61,938,000 compared to AUD 33,078,000 a year ago.
Rural Funds Group is an Australia-based real estate investment trust (REIT). The Company owns a diversified portfolio of agricultural assets that are leased predominantly to corporate agricultural operators. It is primarily engaged in the development and leasing of agricultural properties and equipment. The Company leases almond orchards, macadamia orchards, vineyards, cattle properties, cropping properties, agricultural plants and equipment, cattle, and water rights. The Company holds three almond orchards approximately 4,068 planted hectares; six vineyards approximately 636 planted hectares; 13 macadamia orchards approximately 1,906 planted hectares; seven properties with areas to be developed into macadamia orchards with 2,520 hectares; 23 cattle properties made up of 18 breeding, backgrounding, and finishing properties and five cattle feedlots with a combined capacity of 150,000 head, and 15 cropping properties approximately 14,573 hectares.
RURAL FUNDS GROUP 
