Highlights

  • The olive harvest produced 639,900 litres
  • FY26 profit after tax was AUD 782,919
  • Operating cash flow surplus reached AUD 1.59 million

Australian Agricultural Projects Limited (ASX:AAP) shares were quoted at AUD 0.057, with a 0.00% movement. The company operates in the consumer and agriculture sector and reported financial results and operational developments for FY26. Its disclosures include figures for the financial year ended 30 June 2026 and, where specified, subsequent operating information. The business update covers its principal activities, financial results and management priorities.

Harvest and Production

Australian Agricultural Projects reported a 639,900-litre olive oil harvest, completed in the first week of July 2026. The prior harvest produced 752,600 litres, while the comparable earlier lower-yield year of 2024 produced 551,500 litres. Management described 2026 as an off year in the orchard’s biennial production cycle. The harvest comprised 428,100 litres from company-farmed land formerly leased to Victorian Olive Oil Project I, 137,400 litres from VOOP II and 74,400 litres from Peppercorn.

Financial Results

The company reported profit after tax of AUD 782,919 for the year ended 30 June 2026, compared with AUD 1,960,060 in FY25. Lease and management-fee revenue was AUD 1,130,738. Following the cessation of one lease arrangement, the company farmed that portion of the orchard for its own benefit and reported a net benefit of AUD 2,362,254. Funding costs decreased to AUD 402,750 from AUD 446,271. Depreciation was AUD 879,001, including AUD 564,771 relating to olive trees.

Cash Flow and Orchard Works

Net cash generated from operations was AUD 1,593,254, compared with AUD 929,850 in FY25. The company reported that operating cash was used toward purchasing irrigation interests, refurbishing harvester control systems and reducing loan debt by AUD 539,000. New olive washing equipment and conveyors were installed to improve fruit handling. Approximately 200 hectares of the orchard had previously been replanted; 54 hectares of the replanted area had not yet reached mature production.

Operational Plans

Management plans to continue refining maintenance systems for high-density plantings and to assess changes to irrigation controls. The company’s annual report identified a planned independent orchard valuation in 2027. Most of the harvest was classified as extra virgin olive oil, with a smaller quantity classified as virgin olive oil under an extended supply arrangement.