Tatua's just too-good
OPINION: Earlier this month, small Waikato milk processor Tatua reminded the country that it’s still number one when it comes to paying farmers for their milk.
Independent Waikato dairy company Tatua Cooperative has given its 114 suppliers a financial boost with a final payout of $7.10 per kilogram of milksolids for the 2014-15 season.
A strong financial performance for Tatua paved the way for the farmgate payout. This included group operating revenue of $286 million and earnings before tax of $121.1 million in 2014-15. This actually equates to $7.73 per kgMS but the Tatua board has announced a pre-tax retention of 63 cents per kgMS for reinvestment in plant and its value added business strategy.
Tatua's gearing ratio (of debt divided by debt plus equity) increased from 25% to 36.4% after the installation of a new specialised powder dryer.
Milk volume was also up with suppliers producing 15.7 million kgMS compared to 13.2 million kgMS in 2013-14.
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