Rural Funds — Lachlan Farming — Shareholder Meeting (2008)

7 slides from Rural Funds's shareholder meeting presentation, 2008

Slide 1: Lachlan Farming Ltd
LACHLAN FARMING LTD
Slide 2: Introduction
INTRODUCTION • State of Play • Crop Performance • Business Performance • Conclusions / Discussions 2
Slide 3: State of Play
STATE OF PLAY • No River License….no Allocation. • Bore Water shared between Cotton/Wheat/Almonds. • Bore Delivery shared between Cotton/Wheat/Almonds. • Sale of assets to Almonds/Olives. (RBK & GSOC) • 0708 Cotton Crop….last role of the dice! 3
Slide 4: Crop Performance: Wheat
CROP PERFORMANCE • WHEAT – 1129 Ha of Semi-Irrigated Wheat – Average yield of 5 tonne/Ha. – Enterprise profit of ~ $347/Ha. – Wheat price of $307/tonne. – 392 k to the business. 4
Slide 5: Crop Performance: Cotton
CROP PERFORMANCE • COTTON – 642 Ha of Irrigated Cotton – Yield of 12 bales/Ha. – Enterprise profit of $2175/Ha – 1.4 m to the business. – $430/bale for lint and ~ $380/tonne for seed. – Excellent quality….No discounts. – Largest grower in Lachlan/Murrumbidgee. 5
Slide 6: Business Performance
BUSINESS PERFORMANCE • Positive Impacts – Crop performance, especially Cotton. – Leasing and Rental income from RBK/GSOC. – Debt reduction through sale of Assets. • Negative Impacts – Crop input costs rising. – Bore maintenance costs high. 6
Slide 7: Conclusions / Discussions
CONCLUSIONS / DISCUSSIONS • SOME THANKYOU’S – LFL Staff – Contractors – Canberra support – LFL Board 7