With RFM having managed the assets since 2003, the Fund undertakes chicken growing activities for Baiada Poultry and Turi Foods. RFP listed on the National Stock Exchange (NSX) in March 2014. RFM is the responsible entity of RFP.
Benefits of an investment in RFP include:
RFM Poultry (RFP) operates large-scale chicken broiler farms under long term growing contracts with Baiada Poultry Pty Ltd and Turi Foods.
RFM Poultry (RFP) operates large-scale chicken broiler farms under long term growing contracts with Baiada Poultry Pty Ltd and Turi Foods.
RFP’s highly experienced managers oversee the growing of approximately 30 million birds per annum, making it one of Australia’s largest chicken growers. RFP carries out its chicken growing activities in poultry farms situated in Griffith, New South Wales and Lethbridge, Victoria that it leases from Rural Funds Group (RFF).
Importantly, RFP does not own any chickens, and does not have any direct exposure to the chicken meat price. Baiada and Turi supply the day old chicks, necessary food and other inputs, and then collects the chickens for processing once they reach marketable weight. The payment that RFP receives under the contractual arrangements is based on the size of the chicken growing facilities that RFP leases and not on throughput.
RFP’s scale and investment in the latest technology produces an efficient operation that achieves competitive grow-out times and feed conversion rates.
The Fund was established from a demerger with the RFM Chicken Income Fund (CIF) in December 2013 and listed on the National Stock Exchange (NSX) in March 2014.
RFM Poultry (RFP) leases and operates the poultry farms owned by Rural Funds Group (RFF).
RFM Poultry (RFP) leases and operates the poultry farms owned by Rural Funds Group (RFF).
Figures 1 and 2 detail the number of sheds on each poultry farm. The sheds range in age from eight to 32 years and all sheds provide a reasonable level of comfort, particularly heating and cooling for the chickens as they move about the sheds. All sheds are fully automated with farm managers able to monitor and modify temperature, humidity, food and water supplies quickly and easily. An extensive maintenance program undertaken by RFP ensures the sheds remain in good condition and are economically efficient to operate. RFP also adopts a policy of ensuring each shed is inspected three times daily to observe the chickens. These frequent inspections assist farm managers monitor the status of each shed, specifically the health and comfort of the birds.
Griffith, New South Wales (NSW), is one of the major chicken meat producing regions in Australia. The Griffith farms are located within eight kilometres of the Baiada processing plant and are the primary contributor to that plant.
Baiada’s processing plant is supported by 234 sheds, growing approximately 43 million birds per annum. RFP leases 134 of these sheds and is integral to the throughput. The processing plant supplies chicken meat to the NSW and Australian Capital Territory markets.
| Property | No. of sheds | Shed area (m2) | Total farm area (m2) |
|---|---|---|---|
| Farm 53a | 10 | 1,863 | 18,630 |
| Farm 53b | 10 | 1,620 | 16,200 |
| Farm 54 | 10 | 1,620 | 16,200 |
| Farm 55 | 10 | 1,620 | 16,200 |
| Farm 56 | 10 | 1,620 | 16,200 |
| Farm 57 | 10 | 1,236 | 12,360 |
| Farm 58 | 10 | 1,500 | 15,000 |
| Farm 63 | 10 | 1,500 | 15,000 |
| Farm 64 | 10 | 1,500 | 15,000 |
| Farm 65 | 10 | 1,500 | 15,000 |
| Farm 66 | 10 | 1,500 | 15,000 |
| Farm 67 | 12 | 2,924 | 35,088 |
| Farm 68 | 12 | 2,958 | 35,496 |
The Lethbridge farms are located north west of Geelong, Victoria, and comprise of four farms consisting of five sheds each. The Lethbridge farms supply chickens to Turi Foods.
Figure 2 shows summary information for the Lethbridge farms.
Figure 2: RFP poultry farms – Lethbridge
| Property | No. of sheds | Shed area (m2) | Total farm area (m2) |
|---|---|---|---|
| Farm L1 | 5 | 2,958 | 14,790 |
| Farm L2 | 5 | 2,958 | 14,790 |
| Farm L3 | 5 | 2,958 | 14,790 |
| Farm L4 | 5 | 2,958 | 14,790 |
| Record Date | Reinvestment Date | Cash Payment Date | Distributions Paid (per unit) |
Franking Credits | Total Gross Distribution1 |
|---|---|---|---|---|---|
| 29/03/2018 | N/A | 30/04/2018 | $0.025125 | $0.010768 | $0.035893 |
| 29/12/2017 | N/A | 31/01/2018 | $0.025125 | $0.010768 | $0.035893 |
| 29/09/2017 | NA | 31/10/2017 | $0.025125 | $0.010768 | $0.035893 |
| 30/06/2017 | NA | 31/07/2017 | $0.025125 | $0.010768 | $0.035893 |
| 31/03/2017 | NA | 28/04/2017 | $0.025125 | $0.010768 | $0.035893 |
| 29/12/2016 | NA | 31/01/2017 | $0.025125 | $0.010768 | $0.035893 |
| 30/09/2016 | NA | 28/10/2016 | $0.025125 | $0.010768 | $0.035893 |
| 30/06/2016 | NA | 29/07/2016 | $0.025125 | $0.010768 | $0.035893 |
| 31/03/2016 | NA | 29/04/2016 | $0.025125 | $0.010768 | $0.035893 |
| 31/12/2015 | NA | 29/01/2016 | $0.025125 | $0.010768 | $0.035893 |
| 30/09/2015 | NA | 30/10/2015 | $0.025125 | $0.010768 | $0.035893 |
| 30/06/2015 | 30/07/2015 | 30/07/2015 | $0.025125 | $0.010768 | $0.035893 |
| 31/03/2015 | 15/04/2015 | 15/04/2015 | $0.025125 | $0.010768 | $0.035893 |
| 30/12/2014 | 15/01/2015 | 15/01/2015 | $0.025125 | $0.010768 | $0.035893 |
| 30/09/2014 | 15/10/2014 | 15/10/2014 | $0.025125 | $0.010768 | $0.035893 |
| 30/06/2014 | NA | 16/07/2014 | $0.0331 | NA | $0.0331 |
| 4/04/2014 | NA | 15/04/2014 | $0.0331 | NA | $0.0331 |
| 31/12/2013 | NA | 24/01/2014 | $0.0331 | NA | $0.0331 |
1Total distribution, including franking credits
| Date | RFP Net Asset Value (NAV) per unit |
|---|---|
| 31/12/2017 | $1.12 |
| 30/06/2017 | $1.13 |
| 31/12/2016 | $1.14 |
| 30/06/2016 | $1.11 |
| 31/12/2015 | $1.08 |
| 30/06/2015 | $1.09 |
| 31/12/2014 | $1.03 |
| 30/06/2014 | $0.97 |
| 31/12/2013 | $0.97 |
RFP is a result of a demerger with the RFM Chicken Income Fund (CIF) on 19 December 2013. The NTA as at the day of the merger was $6.8m.
2nd April 2018
James Powell, RFM’s General Manager, Investor Relations and Marketing, recently spoke to the Finance News Network about the installation of solar panels on the Victorian poultry farms operated by RFM Poultry (NSX: RFP), as well as the recently released 2018 half year financial results.
1st March 2018
RFM Chief Operating Officer, Stuart Waight, hosted a webinar to outline the RFM Poultry (RFP) half year 2018 financial results on 28 February.
3rd March 2017
RFM Chief Operating Officer, Stuart Waight, hosted a webinar outlining the RFM Poultry (RFP) first half 2017 financial results on 2 March.
2nd March 2017
Rural Funds Management (RFM), as responsible entity for RFM Poultry (RFP), is pleased to announce RFP’s first half 2017 results.
4th October 2016
The FY16 financial statements for all Funds managed by RFM are now available.
7th September 2016
Rural Funds Management (RFM), as responsible entity and manager for RFM Poultry (RFP), today hosted an investor webinar following the release of the fund’s FY16 annual financial results.
7th September 2016
Rural Funds Management (RFM), as responsible entity and manager for RFM Poultry (RFP), is pleased to announce the FY16 results for the fund.
9th March 2016
The half year 2016 financial statements for the following RFM managed funds are now available.
2nd March 2016
Rural Funds Management (RFM), responsible entity for RFM Poultry (RFP), is pleased to announce RFP’s first half FY2016 results.
11th December 2015
As 2015 draws to a close, Rural Funds Management (RFM) is pleased to present an update to RFM Poultry (RFP) investors.
25th September 2015
The full year financial statements for FY15 for the following RFM managed funds are now available.
9th September 2015
Rural Funds Management Limited (RFM), Responsible Entity for RFM Poultry (NSX: RFP) is pleased to announce the fund’s 2015 Annual Financial Results.
25th February 2015
The half year reports for FY 2015 for the following RFM managed funds have been released.
13th March 2014
RFM Poultry (RFP) will release its first half FY2014 results on Friday 14 March 2014 and list on the National Stock Exchange (NSX) on Monday 17 March 2014.