Rural Funds Group Reports Strong FY24 Performance and Positive OutlooK

Rural Funds Management Limited (RFM) has released the FY24 financial results for Rural Funds Group (ASX: RFF), showing significant growth. Property revenue increased by 8.0% to AU$88.4 million, driven mainly by additional rental income from macadamia developments. The adjusted net asset value (NAV) rose by 7.2% to AU$3.14 per unit, while adjusted funds from operations (AFFO) increased by 2.8% to 11.0 cents per unit. Earnings per unit reached 30.3 cents, totaling AU$117.2 million, supported by property revenue and independent valuations. The Group maintained a distribution of 11.73 cents per unit. With continued investment in macadamia developments and strategic asset management, RFM forecasts a 3.6% growth in AFFO for FY25 and steady distributions. The portfolio, consisting of 67 properties, remains diversified with a long weighted average lease expiry (WALE) of 13.5 years.

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