The Agricultural Land Trust swung to a huge $127.2 million annual statutory loss in the past financial year after fully impairing loans totalling $133 million it provided through its debenture program to a subsidiary of failed fund manager iProsperity Group.
ALT's full-year loss was a 1026 per cent drop on its earnings a year ago, when the A-REIT minnow reported a $13.7 million profit, its 2020 full-year accounts show.
