Rural Funds Group Reports Double Digit Increase in Profit

March 02, 2020 01:11 PM AEDT | By Team Kalkine Media

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For the half year ended 31 December 2019, Rural Funds Group (ASX: RFF) reported property revenue increase of 22% to $37.6 million. Adjusted funds from operations (AFFO) per unit increased by 11% to 7.1 cents.

The positive HY20 results are largely due to the JBS transactions, cattle acquisitions, development capital expenditure and lease indexation;
The total comprehensive income earnings per unit increase of 16% to 8.9 cents.

The company is forecasting FY21 DPU of 11.28 cents, in-line with 4% growth target.

At AEST 12:51PM, the stock was trading at $1.890 per share, down by 2.073% from its previous close.

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