Rural Funds Group (ASX:RFF) property revenue increase of 8% to $72.0m

Company News

by Rachael Jones

Rural Funds Group (ASX:RFF) has reported an 8 per cent increase in property revenue to $71.98 million with the group continuing to expand its portfolio.

Earnings per unit rose 82 per cent to 18.4 cents - adjusted net asset value increased 8 per cent to $1.94 a unit.

Adjusted funds from operation were 13.5 cents a unit, in line with forecasts.

The group says they have had positive independent valuations for almond orchards, macadamia orchards, cattle properties and water entitlements.

Recycling capital out of poultry and almond assets to fund acquisitions such as more macadamia ochards.

Shares in Rural Funds Group (ASX:RFF) are trading 0.9 per cent higher at $2.22.