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Australian Agricultural Projects Limited (ASX:AAP)

ALERT: Price-sensitive ASX Announcement for AAP
Current share price for AAP : $0.067 0.007 (11.67%)+
Announcement
Release
28 Apr 2026 4:50PM
Price at Release
$0.060
Full Release
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Summary
Australian Agricultural Projects Limited reported its quarterly update and Appendix 4C for the period ending 31 March 2026. The company highlighted that preparations for the 2026 olive harvest are almost complete, with harvesting expected to start soon. The orchard faced significant rainfall, leading to flooding that reduced irrigation needs but caused no lasting damage. The company upgraded hydraulic control systems on its harvesters to extend their operational life. The quarterly cash receipts were $2.065 million, resulting in an operating surplus of $596,000. A deficit is expected in the June quarter due to harvest expenses. The company repaid $826,000 in borrowings and has $616,000 available for redraw to support operating costs. The company's consolidated cash flows show net cash from operating activities at $596,000, while investing activities resulted in a cash outflow of $147,000. Financing activities provided net cash of $201,000, with cash equivalents at the end of the period totaling $871,000.
Key Points
  • Olive harvest preparations for 2026 are nearing completion.
  • Significant rainfall resulted in temporary flooding, reducing irrigation needs.
  • Upgraded hydraulic control systems on harvesters to improve efficiency.
  • Quarterly cash receipts of $2.065 million, operating surplus of $596,000.
  • Expected operating deficit for June quarter due to harvest expenses.
  • Repayment of $826,000 in borrowings, $616,000 available for redraw.
  • Net cash from operating activities at $596,000.
  • Cash outflow of $147,000 from investing activities.
  • Net cash of $201,000 from financing activities.
  • Cash equivalents at end of period totaling $871,000.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.