Agricultural business Ruralco Holdings Ltd (ASX: RHL) revealed in an ASX update that it expects to report underlying profit consistent with broker forecasts.

Ruralco, a diversified farming supplies and rural services provider, said its 2018 full-year underlying net profit is expected to be between $26 million and $29 million, which is consistent with the mid-point of market forecasts.

Ruralco’s ongoing delivery against its Future Farming Strategy continues to provide broad stability to the Company’s performance through geographical spread, activity diversification and differentiated channels to market,” Ruralco CEO Travis Dillon said.

In May, Ruralco said dry conditions in Queensland and Northern NSW could adversely impact performance in the second half of its financial year. However, rainfall throughout other parts of Australia and a robust wool and sheep market helped the company confirm its forecasts.

“Our focus in the fourth quarter will be on ensuring we continue to execute our strategy, drive business efficiency and support our customers through this challenging cycle,” Dillion added.

In 1945, Warren Buffett took $1,200 he made in business and bought 40 acres of farm in Nebraska. He was 14. Buffett was a millionaire by his late 20’s but ‘only’ worth $300m at his 50th birthday. Now he is a $US84 billion investor.

That means he made 99% of his wealth after turning 50! How does a 50-year-old do that when the world seems to be falling apart? Download the free Aussie investing ebook, “What Buffett’s Investing Checklist Can Teach Aussie Investors“ when you join the free Rask Group Investor Club Newsletter. You’ll get insights into the 4 steps Buffett uses to pick his investments.

Click here to join The Rask Group’s Investor Club Newsletter and Download The Ebook!