Downturn hits Dairy Farms NZ's profit

Milk prices dropped significantly in the last season as demand from China weakened. (Image: Getty)

Fri, 27 Oct 2023

Declining milk prices and increasing on-farm costs have hit the profitability of corporate farmer Dairy Farms New Zealand.Dairy Farms NZ (DFNZ), which is almost 50% owned by US company EGI-NZ Dairy, owns seven dairy farms and leases one, all in the South Island, with a peak milking herd of roughly 6,100.The enterprise, which filed its annual financial statements on Friday, has previously signalled that listing on the NZ stock exchange was a matter of priority, but it needed a larger equity base to do so.Year that wasIts profit in the 12 months...

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