Brief: New Zealand Rural Land Says HY Net Profit After Tax Of NZ$2.5 Mln

New Zealand Rural Land

24/08/2023 21:39

Aug 25 (Reuters) - New Zealand Rural Land Company Ltd
 NZL.NZ :
    * RECORDED A NET PROFIT AFTER TAX OF $NZ2.5M FOR HY
    * FROM 1 JULY 2024, NZL WILL START TO SEE POSITIVE IMPACT OF
RENTAL GROWTH
    * WILL USE AVAILABLE CASH FLOW TO ACQUIRE NZL SHARES THROUGH
AN
ON-MARKET SHARE BUYBACK PROGRAMME
    * WILL USE AVAILABLE CASH FLOW TO REDUCE CONVERTIBLE NOTE
BALANCE
RECENTLY ISSUED TO ACQUIRE FORESTRY ASSETS
    * HY ADJUSTED FUNDS FROM OPERATIONS NZ$2.7M
    * FY22-FY24 FORECAST AFFO PER SHARE CAGR +31.4%
    * UPGRADED ITS FY24 AFFO GUIDANCE
    * FY24 AFFO IS NOW FORECAST TO BE IN RANGE OF NZ$8.0M -
NZ$8.5M

Further company coverage:  NZL.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))