Ruralco Holdings Ltd (ASX:RHL) says its first half net profit grew 31.5 per cent to $10.23 million, despite a period of severe weather across Australia.
The seller and marketer of rural products says the result was achieved on the back of favourable market conditions across rural supplies, livestock, wool, grain, marketing and financial services.
In the six months to 31 March, revenue rose 14.9 per cent to $493.7 million. Earnings before interest and tax increased 36.5 per cent to $22.8 million.
Ruralco says its results for the rest of the 2011 financial year will be dependent on favourable seasonal conditions across Australia and continued strong commodity prices.
An interim dividend of nine cents per share, fully franked, has been declared.
In the 2010 financial year, Ruralco Holdings booked a net profit of $14.7 million for the 12 months to 30 September 2010.
