Performance

DIFL Share Performance
Click above chart for a better view

Aim to outperform the average industry dairy return by targeting medium risk high growth assets. This has been achieved to date with IRR above 40% and returns outperforming the AGRIFAX NZ dairy index.

 

Performance milestones:

  • Founding shareholder in Open Country Cheese Company Ltd in 2003.
  • OCC successfully recruited sufficient milk to be economically viable in its first year of operation.
  • GT & Company engaged by OCC for the pre IPO valuation.
  • Increased OCC shareholding in May 2004 IPO.
  • One Board position on OCC Board.
  • GT & Company engaged as FX manager for OCC.
  • Purchased a 30% shareholding in Grate Kiwi Cheese in 2006
  • Very high sales growth within OCC to $150 million in the 12 months to 31 May 2008.
  • GT & Company arranged bank finance for OCC.
  • Founding shareholder in Dairy Trust Limited in 2007
  • Two Board positions in Dairy Trust Limited.
  • GT & Company retained as FX manager for Dairy Trust Limited.
  • Sold OCC shares in 2007 (to Dairy Trust), for a realised gain of $6m.
  • Dairy Trust increased OCC shareholding to 51% in 2007.
  • Grate Kiwi doubled processing capacity by investing in a new site and plant in 2007.
  • Grate Kiwi entered into a JV agreement with Goodman Fielder to cut and wrap domestic cheeses.
  • Founding shareholding in Kaimai Cheese Limited in 2006.
  • Increased shareholding in Kaimai Cheese to 30% in May 2007 IPO.
  • Cornerstone shareholder in Kaimai and one Board position.
  • GT & Company arranged bank finance for Kaimai.
  • Sold 10% of Dairy Trust to Olam International for a realized gain of $20m in July 2008.
  • Successful takeover of OCC by Dairy Trust Limted. (Dairy Trust name change to Open Country Dairy).
  • Distributed $13m to shareholders through a 2008 DIFL share buyback.
  • DIFL begins buying NZ Farming Systems Uruguay Limited (NZS) shares in December 2008.
  • Open Country commission two new whole milk powder plants, one at Waharoa and one at Awarua, ready to take milk from 1 August 2008.
  • Open Country commission a new whole milk powder plant at Whanganui ready to take milk from 1 August 2009.
  • DIFL sells its NZS shares to Olam in September 2010 realising an IRR of 15%.
  • Kaimai Cheese Company took over Te Mata Cheese Company in August 2009 effectively tripling sales volumes and doubling sales revenue.
Open Country CheeseTe Mata Cheese
Lovingly handcrafted by GWDesign