Rural Funds Group Reports Earnings Results for the Half Year Ended December 31, 2023
February 22, 2024 at 05:24 pm EST
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Rural Funds Group reported earnings results for the half year ended December 31, 2023. For the half year, the company reported sales was AUD 53.16 million compared to AUD 43.98 million a year ago. Net income was AUD 46.72 million compared to AUD 56.85 million 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 
