The company owns 11,710 hectares of rural land in New Zealand, which is tenanted on long-term leases.
It claims to "generate shareholder value through a combination of asset value appreciation and cash flows from its long-term leases".
Interestingly, this result was announced at the same time as NZ Rural Land Co's chair Rob Campbell was being sacked from his government-appointed roles for his anti-National party rants.
Despite Campbell being chair of the company, there was no comment from the chair about the declining company profit or poor result.
Your old mate wonders, is NZ Rural Land Co is trying to distance itself from the current curse of Campbell?
