RLF AgTech Ltd has reported a record December quarter with $10.4 million in cash receipts, driven by strong performances across its LiquaForce, China, and newly operational Australian divisions. Positive field trial results in Vietnam and ongoing expansion in Southeast Asia underpin the company’s growth outlook.
- Record $10.4 million cash receipts for December quarter, up 8% year-on-year
- LiquaForce revenue grows 15% despite earlier season end
- RLF China achieves strong 53% gross profit margin ahead of peak sales
- RLF Australia enters first full selling season with promising trial results
- Vietnam durian trials confirm significant yield and tree health improvements
Robust Quarterly Performance
RLF AgTech Ltd (ASX – RLF), an Australian-based plant nutrition company, has delivered a record December quarter with cash receipts reaching $10.4 million, marking an 8% increase compared to the same period last year. This milestone reflects sustained growth across its core divisions, including LiquaForce, RLF China, and the newly established RLF Australia business.
The company closed the quarter with a strong cash position of $8.3 million and inventory valued at approximately $4 million, positioning it well for the upcoming peak selling season. Despite some seasonal challenges, RLF demonstrated operational resilience and momentum, underpinning confidence in its growth trajectory.
LiquaForce and China Operations Drive Growth
LiquaForce, RLF’s specialty liquid fertiliser business, recorded a 15% revenue increase over the half-year period, despite an earlier-than-expected conclusion to the application season due to weather conditions. The commissioning of a new manufacturing facility in Welshpool, Western Australia, enhances LiquaForce’s production capacity and supports its service offerings, including precision application technology deployed in Queensland.
Meanwhile, RLF China maintained excellent gross profit margins of around 53%, benefiting from disciplined pricing and a favourable product mix. The business focused on distributor engagement and technical validation ahead of its peak sales window from January to June. The recent Nanchang Brand Conference further solidified distributor relationships and promoted RLF’s integrated nutrition and immunity framework, setting the stage for strong sales in the coming months.
Australian Market Entry and Field Trials
RLF Australia is entering its first full selling season after establishing its operational platform. The business has restructured its leadership and sales teams to enhance execution and focus on priority regions. Early field trial results have been promising, with yield improvements ranging from 8% to 58% across multiple crops such as wheat and canola, translating into attractive returns on investment for growers.
These trials reinforce RLF’s confidence in its crop nutrition programs and their ability to deliver consistent, repeatable agronomic benefits under commercial conditions. The Early Order Campaign launched during the quarter aims to build distributor engagement and visibility ahead of the Australian cropping season commencing in March.
Southeast Asia Expansion and Sustainable Initiatives
In Southeast Asia, RLF continues to expand its footprint, with Vietnam remaining a key market. Multi-year durian trials in Vietnam have confirmed a 38% yield increase and significant improvements in tree health, supporting the commercial viability of RLF’s program-based nutrition strategies. The company is also progressing market development in Taiwan, the Philippines, Cambodia, and India, laying groundwork for future growth.
Additionally, RLF’s soil carbon demonstration project at Hillston highlights its commitment to sustainable agriculture. The project integrates carbon and nutrition systems within commercial farming, achieving strong crop yields and quality while supporting carbon sequestration goals.
Corporate and Financial Position
Corporate updates during the quarter included leadership changes in Australia to improve accountability and execution, as well as share issuances related to employee incentives and board remuneration. The company’s capital structure remains solid, with a cash balance of $8.3 million and no immediate need for additional financing.
Looking ahead, RLF is focused on converting its operational groundwork into sales during the peak seasonal periods across all regions. The company’s integrated approach to crop nutrition, combined with expanding manufacturing capabilities and strong distributor networks, positions it well for continued growth in the second half of FY26.
Bottom Line?
With strong momentum across its divisions and promising trial results, RLF AgTech is poised to capitalise on the critical second half of the financial year.
Questions in the middle?
- How will RLF Australia’s first full selling season impact overall revenue growth?
- Can LiquaForce sustain its revenue momentum despite seasonal variability?
- What are the long-term commercial implications of the Vietnam durian trial results for RLF’s Southeast Asia expansion?