TasAg on a sales roll

The company says several further sales were concluded last week, including three dairy conversions the company purchased during the last year and are currently being converted to dairy farms.

In total 61 properties have now been sold, leaving six properties south of Dunedin to sell, several of which are currently under negotiation.

Proceeds from the sales to date total $212.6 million, with cash proceeds of $203.6 million settled this month.

Sales so far this June have been worth $67.2 million and have run at around 30% above last year's valuations.

CEO Ray Parker says the farm sales process has progressed favourably with almost insatiable demand for South Island dairy farms.

"There is real confidence in the industry and we expect to conclude the sales process by divestment of the remaining six properties within a reasonably short time frame."

Mr Parker says the company's balance sheet is in good shape and the sales have left its New Zealand operations debt free.

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