Preliminary Final Report

• Revenue down 16.73% to $20.048 million
• Net loss of $12.505 million compared to $5.193 million profit
• Reduced revenue from NSW aggregation and loss on Kentucky property sale

Duxton Farms Ltd has reported a net loss after tax of $12,505,000 for the year ended 30 June 2025, compared to a profit of $5,193,000 in the previous financial year. Revenue from ordinary activities decreased by 16.73% to $20,048,000. The difference in financial performance is attributable to several factors, including increased administrative expenses arising from a proposed acquisition, reduced revenue from the New South Wales aggregation after the sale of Timberscombe in 2024, a loss on the sale of the Kentucky property relative to the previous year's valuations, and expensed development costs associated with the Piambie and Northern Australia developments. Duxton Farms had a good though not particularly remarkable harvest, with a strong canola crop but average wheat and barley crops. Cotton is expected to become a larger part of the New South Wales operation going forward. The net asset value of the company decreased from $119.858 million or $2.89 per share in 2024 to $98.377 million or $2.39 per share in 2025, primarily due to the impact of property sales, development expenditures, and increased administrative expenses.