Higher production helps Dairy Brands profit

The profit compares to a loss of $868,000 for the same period the previous year.

The dairy farm owner has been selling off a number of its properties in recent months, taking advantage of increased demand for dairy land.

At a special meeting earlier this month shareholders voted to sell the rest of the Dairy Brands' properties, and move to eventual liquidation of the company.

The company says production to date is up 9% on last year and running 3% above budget, with the budget for the full year being just over 3 million kilos of milk solids compared with the previous year at 2.8 million kilos.

Final accounts could improve further as the company has used a pay-out figure of $4.20 per kilo of milk solids, but says the figure is on the conservative side with industry leaders confident of a final pay-out of $4.50 or more.

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