Media release – RFM Poultry (RFP) HY17 results

Rural Funds Management (RFM), as responsible entity for RFM Poultry (RFP), is pleased to announce RFP’s first half 2017 results.

RFP highlights and results overview

  • Net profit after tax of $0.55m
  • Earnings per unit of 7.94 cents
  • Net assets of $7.9m
  • Distributions in line with previous forecast

Profit to 31 December 2016 was higher than the previous corresponding period primarily due to lower energy and water costs, and savings in insurance premiums and service fees.

At an operational level, the handover of Victorian chicken growing contracts from Baiada Poultry Pty Ltd to Turi Foods Pty Ltd is now complete, with no disruptions to operations. RFP continues to improve animal welfare outcomes, with the Griffith poultry operations maintaining RSPCA accreditation and the Lethbridge poultry operations currently undergoing the assessment process by RSPCA.

Previous forecast FY17 distributions maintained Forecast distributions per unit remains 14.36 cents (inclusive of franking credits). Distributions are paid quarterly.