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Dairy Brands Announces Positive Results

Agribusiness company, Dairy Brands NZ Limited has announced a positive operating profit for the year ended 31 May 2000 of $86,000 following successive years of losses.

“The turnaround in the company’s fortunes is the result of a increase in production up 8 per cent; a 10 per cent improvement in dairy payout proceeds and a tighter control over administrative overheads,” according to Peter Jensen, chairman of Dairy Brands NZ Limited.

The company’s 14 dairy farm properties in Canterbury and North Otago this year produced a total of 2.8 million kilograms of milk solids, which equates to 1,134 kilograms per hectare and 379 kilograms per cow.

An improvement in the dairy price payout to $3.75 per kilogram milk solids reflects a 10 per cent increase on the 1998/99 season, further contributing to the annual result.

The past year has also seen the company undertake a major restructure that culminated in the appointment under contract of an experienced management farm management company. This will achieve ongoing savings following the closure of a Christchurch office and the sale of various plant and vehicles.

Further increases in farm profitability are forecast as new farm management systems are implemented across a full 12 month period.

The company has introduced new systems for production reporting, feed planning, the management of supplementary feed, and farm supervision.

“The new management systems, a programme of on-farm capital investment and the adoption of new technology by staff, are all in place to drive sustainable earnings and profitability in future years.”

“The focus on productivity and efficiency has achieved a marked turnaround for the company,” Mr Jensen said.

Ends

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