The Group is supported by three strong shareholders who take a long-term view.
These shareholders know that long-term sustainability achieves a healthy business with good outcomes. This requires being not only profitable but also ensuring we invest in the health of our people and environment. Our future success is dependent on bringing our people together to do their best, look after our customers and care for the environment and local communities.
Our shareholders also support the development of future governors. Currently four observers attend board meetings.
In 2021/22 the Covid-19 lockdowns have limited the availability of trained and experienced farm operators and staff.
The roll out of our Values and Behaviours framework (Integrity, Leadership and Family) and launch our People strategy is seeking to develop, progress and retain our people.
Over the 2021/22 our focus has widened to include securing additional support land to graze our non-lactating cows and dairy replacement young stock.
The Group was able to secure the purchase of five additional support blocks during the year. This leaves 600ha of additional support land to meet our requirements of being self-contained for all grazing.
We exceeded our financial targets over the past year. The record high milk price resulted in a record profit for the Group. Our balance sheet has further strengthened following an increase in land values. As a result, our debt-to-equity ratio has further improved.
In July 2022, the Group’s syndicated banking facility was renewed for a further term until November 2024. This facility will now enable the Group to execute its five-year business plans.