• Wellard reports net profit of US$1.3 million in FY25
• Completed sale of remaining vessel M/V Ocean Drover for US$50 million
• Plans to delist from ASX subject to shareholder approval

Wellard Limited reported a net profit of US$1.3 million in FY25, which includes a US$5.0 million expense to secure full and unencumbered ownership of the M/V Ocean Drover. Excluding this expense, Wellard achieved a net profit of US$6.3 million. The company recorded a 99.66% voyage success rate, delivering 137,275 cattle globally. In FY25, Wellard completed the sale of the M/V Ocean Ute for US$12.0 million and the M/V Ocean Drover for US$50.0 million. With no remaining revenue-generating assets, Wellard's Board will provide further details to shareholders prior to the upcoming AGM regarding a delisting from the ASX, subject to ASX and shareholder approval. The company will reduce administrative costs and return surplus cash to shareholders after retaining expected costs of continuing as an unlisted public company for up to three years.