INTRODUCTION

We are pleased to share our farm survey information with you again this year and hope you continue to get value from the comparative data. We have decided to present our data using medians instead of averages. The median is the mid-point of any data set. We believe it will give a more accurate picture of each farm type as averages can be influenced by outliers. We have continued to include information for the last 5 years, including the top 20% data, in each farm class.

As farm accounting and business specialists, we are proud of the data and insights we can share with our farming clients. The objective of this survey is to highlight the financial and on farm performance levels being achieved by other farms within your farm class.

The top 20% group of farmers in each farm class have been identified and we then used the mid-point of this group based on the farm surplus per stock unit (Farm income minus Farm working expenses). This means that debt servicing, leasing costs, drawings and plant replacement do not influence the comparison.

All figures are based on total opening stock units (TSU) and total hectares, unless otherwise stated and the survey is completed on a GST exclusive basis. The return on assets is based on a land and buildings value of $1,100 per opening stock unit.

We trust the farm survey will continue to be a useful tool to achieving more profitable results from your farming business. We would like to thank all our farming clients that participate in the survey, and if you have any questions or would like further advice based on these results, please do not hesitate to contact us.

We have recently sent out a survey to obtain feedback on our farm survey and intend using this feedback for continual improvement in the future.

Janette Matheson Director Simon Wearing Director Director Georgie McLean Director

+$12 Lamb and hogget prices per head for top 20%