ALF - Allied Farmers Limited

[nztx]

Low PE , lots of revaluation growth ... Ahem NO DIVIDEND

what an exciting investment - a partially explored deep hole in the outback may be even more exciting
with loads more potential

No need to build an empire of farming turf, structured so well that it no longer spits out even a small
payout annually to stakeholders

[percy]

Page 12 of ALF's agm presentation.

- Allied Farmers had tax losses as at 30 June 2021 which amounted to $40,568,976
Unlikely that dividends will be paid until tax losses have been utilised - it makes little sense at present to pay unimputed dividends.
- Buy-backs will most likely be utilised as a mechanism to return capital to shareholders as and when opportunities present themselves.

[Monarch]

Page 12 of ALF's agm presentation.

- Allied Farmers had tax losses as at 30 June 2021 which amounted to $40,568,976
Unlikely that dividends will be paid until tax losses have been utilised - it makes little sense at present to pay unimputed dividends.
- Buy-backs will most likely be utilised as a mechanism to return capital to shareholders as and when opportunities present themselves.

Does this mean they can make $40,568,976 in NPBT and pay no tax on it? IE ~11 million worth of tax savings?

[percy]

Does this mean they can make $40,568,976 in NPBT and pay no tax on it? IE ~11 million worth of tax savings?

Yes.............................................

[golden city]

Yes.............................................

That is almost 5 to 10 years earning tax free From Nz rural land management if fully take over next year

[percy]

Page 12 of ALF's agm presentation.

- Allied Farmers had tax losses as at 30 June 2021 which amounted to $40,568,976
Unlikely that dividends will be paid until tax losses have been utilised - it makes little sense at present to pay unimputed dividends.
- Buy-backs will most likely be utilised as a mechanism to return capital to shareholders as and when opportunities present themselves.

Nothing has changed since I posted this on 22-12-2021.
Made sense then and still makes sense today.

[golden city]

We are heading to big milestone soon

[nztx]

We are heading to big milestone soon

Are we ?

Up, down, Up down further, Up Down further ..

[nztx]

Oh look - ALF Profit projected forward elevated upwards by $200 k

https://www.nzx.com/announcements/386570

will ALF be over the buck by end of the week on this upgrade ?

At Fri close of 79 c things might need a larger miracle IMO

[Nigel]

When net profit is only circa $1m, $200k is a very welcome increase. That said, the income was expected in the next period anyway, so it makes no meaningful impact to FY result (unless that particular subsidiary can turn it up in the second half). Regardless, a market cap of under $23m and a PE of only 7... I think there's considerable value in this stock. GLTAH.