Rural Funds Group (ASX:RFF) see rise in profit after acquisitions

Company News

by Rachael Jones

Rural Funds Management as responsible entity of the Rural Funds Group (ASX:RFF), have today released Financial Statements for the half year ended 31 December 2019 showing a property revenue increase of 22 per cent to $37.6 million.

Profit after tax rose 37 per cent to $29.1 million from $21,1 million on the prior corresponding period.

The increase comes after a number of acquisitions, particularly the JBS transactions. The feedlot acquisitions and J&F limited Guarantee income and cattle acquisitions.

Shares in Rural Funds Group (ASX:RFF) are trading 4.4 per cent lower at $1.84.