Net profit after tax: $11m, down 73% from $40m last year.
Key takeaway: NZ Rural Land Company has reinstated its dividend and looks set to see an increase in rental income on its properties.
Farm and forestry land investor NZ Rural Land Company has reported a 73% decrease in net profit after tax (npat) from $40 million to $11m in the year to December 31, 2023, mostly due to the revaluation of its properties.
Net rental income was $15m, up from $8m in FY23. Meanwhile, the company’s
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