Australian Agricultural Projects Ltd. announced unaudited consolidated earnings and operating results for the year ended June 30, 2018. For the year, the company's LBITDA attributable to the company was $160,226 compared with EBITDA of $823,931 a year ago. Negative NPAT to the company was $852,707 compared with NPAT of $442,641 a year ago. The company's surplus operating cash flow for 2018 amounted to $469,902, 40% greater than the 2017 surplus of $334,022. This result came about despite the operating receipts from the 2017 harvest being lower than the 2016 harvest. Revenue was $1,654,827 compared with $2,969,873 a year ago. Loss before income tax was $852,707 compared with profit of $442,641 a year ago. Diluted loss per share was 0.56 cent compared with earnings per share of 0.29 cent a year ago. Net cash provided by operating activities was $469,902 compared with $334,022 a year ago. Payments for property, plant and equipment was $745,359 compared with $58,434 a year ago. Net tangible assets per security were 3.30 cent compared with 3.86 cent a year ago.

For the year, the company reported total harvest of 429,300 litres against 710,400 litres a year ago.

Management expects operating cash flows over the next twelve months will be appreciably lower due to the size of the 2018 harvest and the resulting reduction in current year cash receipts.