in a stockless cash crop system under Norwegian conditions. Please contactrandi.seljaasen@bioforsk.no for further information and publications from the study.Animal research facilitiesOrganically managed herds on research farmsOrganically managed herds on research farms. YOC is defined as the first year the herdwas managed according to organic standards.Institution, location Type of herd Feeding YOC Contact personNO19. Norwegian University of 18 dairy cows Individual 1995 trygve.skjevdal@umb.noLife Sciences, Ås (UMB)NO20. Bioforsk, Tjøtta 70 adult sheep Group 1997 vibeke.lind@bioforsk.noUMB, organic herdsMost organic dairy farmers in Norway have spring calving dairy cows and pasture basedmilk production, often due to the general poor quality of silage used for winter feeding.Hence, there is a need to increase the organic milk production in late autumn and winter.Recently revised organic standards require that all feedstuffs to dairy cows should beorganically produced, which also enhance the focus on improving the quality of on-farmproduced roughages. The UMB has conducted the project “Milk production and quality andN use efficiency by dairy cows offered white or red clover silages” to compare white andred clover silages with and without concentrate supplementation, and the effects on milkproduction and quality, and N use efficiency. The experiment was carried out during thewinter 2004/2005 and will be repeated in 2005/2006. In addition to DM intake and milkyield, the treatments effects on milk quality, including the content and composition of fattyacids and phyto-oestrogens, will be evaluated. The herd is otherwise managed accordingto organic standards. The herd is kept in loose housing, and fodder consumption isrecorded continuously for each animal. The milk yield is recorder individually 14 times perweek, and body weight is recorded at each milk yield.A farm unit at UMB has been organically managed since 1991. The farm consists of 15 hain rotation and 6 ha used for pasture and a dairy herd with 18 dairy cows. Due to a feedingexperiment with dairy cows, the area and herd was temporarily expanded in 2002.Research farmsThere is not any farm that satisfies these criteriaOn-farm studiesNO21. On-farm study: Organic dairy farm, Bioforsk Organic Food and Farming Division,TingvollThe farmland belonging to the Norwegian Centre for Ecological Agriculture (NORSØK),where Bioforsk Organic Food and Farming Division (BOFF) is located, is managed as adairy farm with a herd of 13 dairy cows, 15 adult sheep and ca 30 laying hens. 18 hacultivated land and 8 ha pastures have been organically managed since 1995, by tenantswho own the livestock. Plots for research studies are rented from the tenants. For thecommercial dairy farm, BOFF researchers conduct annual registrations of yields, inaddition to regular soil sampling and estimation of nutrient budgets. A climatic loggerstation measures the local temperature and precipitation during the growing season. InAnalysis of facilities in OFF research in participating countries of CORE Organic.Arja Nykänen and Stefano Canali38
Consolidated Income Statementfor the Financial Year ended 31 December <strong>2010</strong><strong>Leeden</strong> <strong>Limited</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2010</strong>Note<strong>2010</strong>$’0002009$’000Turnover 4 191,470 186,148Cost of sales (139,101) (132,177)Gross profit 52,369 53,971Other income 5 4,272 4,349Distribution costs (26,694) (24,885)Administrative costs (11,879) (11,073)Other costs 5 (1,255) (3,336)Profit from operating activities 6 16,813 19,026Finance costs 7 (1,921) (2,016)Share of profit in associated companies 212 218Share of loss in joint venture company (21) –Profit before taxation 15,083 17,228Taxation 8 (3,244) (3,334)Profit after taxation 11,839 13,894Attributable to:Owners of the parent 7,621 8,898Non-controlling interests 4,218 4,99611,839 13,894Basic earnings per share (in cents) 9 4.37 5.12Diluted earnings per share (in cents) 9 4.31 5.05The accompanying accounting policies and explanatory notes form an integral part of the financial statements.37
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