Diversified agricultural company, Ruralco Holdings Ltd (ASX:RHL), has announced its full year results ending 30 September 2016. Ruralco’s revenue increased 10% to $1.8 billion last financial year.
However, the company reported that its NPAT plunged 70% to $4.2 million, compared with its FY15 NPAT (which was $14.1 million).
The company says its profit figure is in line with guidance and that it is satisfied with the result. The fall in profit was due to Ruralco's $14 million restructure in water and live exports, and divestment of its non-core farm machinery business.
Ruralco has declared a fully franked final dividend of 2 cents per share. This brings its full-year dividend to 10 cents per share. Whereas last year, its dividend was 16 cents.