Understanding profit drivers

By Country News

Growers in Dookie, Echuca and surrounding areas are set to be given an insight into what makes top performing grain-growing businesses, with a range of workshops next week.

According to Grains Research and Development Corporation research, 20 per cent of grain businesses are retaining 30 per cent of turnover as net profit, while the average business is retaining closer to 10 per cent.

GRDC Opportunity for Profit workshops will be held at Dookie on March 25 and Echuca on March 26 will provide the answers and enable local growers to better understand the profit drivers in their own businesses.

The half-day workshops will delve into the results from the GRDC three-year national project exploring the integration of profit drivers and technical information for more informed decisions led by Rural Directions with support from Meridian Agriculture and Macquarie Franklin.

Rural Directions’ James Hillcoat said the research benchmarked more than 300 grain businesses nationally to identify what drove profit in each agro-ecological zone and how the provision of technical information linked with these profit drivers.

This information will be explored in detail at the workshops, and Mr Hillcoat said participants would be well placed to identify opportunities for profit within their individual businesses.

‘‘They will go away with an enhanced understanding of the performance of the top 20 per cent growers in their region and will also be able to identify the management traits of a top 20 per cent grower,’’ he said.

Kate Burke of Think Agri will also present at the Dookie and Echuca events, and said attendees would build their knowledge around the profit drivers that really made a difference in a grain business and would have access to diagnostic tools and processes to easily assess their own business performance.

Registration for the free event is essential. To register or for more information, phone 0888414500, email: [email protected] or visit: