• Continued progress on pistachio orchard expansion and walnut plantation development
• Strong growth in apiculture business with increased pollination contracts and honey production
• Challenging weather conditions impact some cropping operations
• Successful completion of corporate restructuring and refinancing

Duxton Farms Ltd, an Australian agricultural enterprise, has reported on its activities for the second quarter of the 2026 financial year. The company manages a diverse portfolio of farmland assets spanning approximately 183,000 hectares across six states and territories. Key highlights include:Horticulture: The company continued to expand its pistachio orchard at Piambie, with the fourth stage of plantings underway. The walnut plantation at Yarramundee also showed good growth, with the Stage 1 trees now three years old and carrying a good number of nuts. The company's apple orchards at Loxton and Nangwarry remained in good condition, despite some labour constraints.Apiculture: Duxton Farms successfully fulfilled its 2025/26 almond pollination contracts and has secured contracts for over 40,000 beehives for the 2026/27 season, representing strong year-on-year growth. Honey production was slightly below budget due to below-average rainfall in New South Wales, but the company is exploring opportunities to increase production in Queensland.Cropping: The winter crop at the Forbes aggregation in New South Wales suffered from hot and dry conditions, though the company was able to partially mitigate the impact through continued irrigation. The cotton crop in the Ord region finished well, with harvest and ginning underway.Corporate: Duxton Farms completed the merger of four other agricultural businesses during the quarter, paying $63.7 million in total consideration. The company also refinanced its term debt facilities, drawing $66 million and repaying $59.3 million.

The company continues to focus on expanding and diversifying its agricultural portfolio, with a particular emphasis on horticulture, apiculture, and development projects in Northern Australia. The company expects to begin harvesting its apple and dried grape crops in the third quarter of the 2026 financial year.