Rural Funds Poultry (NSX:RFP) - Highlights HY2016
Achievements
. 5% register turnover and 15% trading price improvement for the period
Financial
. Net profit after income tax of $0.27m
. Earnings per unit of 3.95 cents
. Net assets of $7.42m
. DPU 7.18 cents including franking
Forecasts FY16
. Profit forecast range maintained between $0.8m to $1.1m after tax
. DPU forecast maintained of 10.05 cent paid and 4.31 cents franking credits (total 14.36 cents per unit)
Fund and operational update
. Manager maintains a focus on:
– Continuous improvement of operations
– Relationship with processor
– Seeking to improve awareness of RFP to increase liquidity and fair valuation
– Investigating growth opportunities
. Griffith poultry sheds leased by RFP were endorsed as compliant with RSPCA guidelines, securing RFP’s position as a premium chicken grower
. The ILT respiratory disease that affected the wider Griffith region last calendar year (as disclosed on 9 September 2015) has been contained, though RFP remains on heightened levels of biosecurity
. The outsourcing of the RFP maintenance function to a third party has successfully achieved a higher level of focus on respective activities
