Rural Funds Management Limited (RFM) have today released the Rural Funds Group (ASX: RFF) (the Group) Financial Statements for the half year ended 31 December 2022 (1H23) as summarised below.
Financial highlights
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Property revenue increase of 7% to $37.4 million (m).
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Earnings (total comprehensive income) increase of 50% to 15.5 cents per unit (cpu).
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Adjusted net asset value (NAV) increase of 3% to $2.78 per unit.
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Distributions per unit (DPU) of 6.10 cents (inclusive of franking), in line with forecast.
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Gearing of 31%, at the lower end of the target range.
Property revenue increased 7% compared to the prior period driven by lease indexation (annual mechanisms and rent reviews), rent on capex and new leases.
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