Sale setback for Dairy Brands

Last week the group said it had entered conditional contracts to sell the final seven dairy farms in its portfolio for a total of $28.75 million, plus stock and plant.

However today it confirmed that contract will not proceed.

Given the current buoyant state of the country's dairy industry it is likely that there will still be strong demand for the farms.

The properties are the last to be sold under the company's divestment plan, which began earlier this year.

Dairy Brands is currently evaluating whether to undertake a share buyback when the final farms have been sold, as a way to return capital to shareholders.

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