Australian Agricultural Projects Ltd. (AU:AAP) has released an update.
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Australian Agricultural Projects Ltd. reported a substantial increase in profits after income tax, reaching $1,254,830 for the fiscal year ending June 2024, surpassing management expectations. Despite an ‘off’ year in the biennial production cycle resulting in a lower olive oil yield, the company’s revenue jumped by 41% due to higher market prices. The balance sheet also reflected strength with a $3,064,220 rise in net assets, largely owing to trading profits, asset revaluations, and capital raised from securities.
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