Ruralco Holdings Ltd (RHL) HY Profit Jumps 29%
Diversified rural supplies and services business Ruralco Holdings Ltd (ASX: RHL) released its half-year financial report to the ASX this morning.
Ruralco Holdings is a popular name in agricultural products, financial services and rural real estate. It also owns brands like Total Eden.
In its ASX release for the period to 31 March 2018, Ruralco Holdings revealed a 7% increase in revenue and a profit of $16 million, up 29% on the prior corresponding period.
“The Future Farming Strategy has delivered diversified earnings across our activities and geographies,” Ruralco Holdings CEO Travis Dillon said. “We have achieved double digit growth by focusing on what we can control and getting the foundation right rather than relying on commodity price movements.”
Looking towards the future, Ruralco said a delay in the autumn season could add pressure to crop protection sales and lead to volatility throughout the remainder of the financial year.
“Our focus remains on business efficiency and expanding our client offer,” Dillon said. “The diversity of our activities and the geographic mix of operations will continue to mitigate the impact of seasonal volatility.”
Ruralco announced a dividend of nine cents per share fully franked which represents about 56% of underlying profit, the company said.
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