DHL remains steady

The uncertainly surrounding SCF and Allan Hubbard had been brewing for some time, which made it easier to get the message across to the company's 300 staff that it was "business as usual", Mr Glass.

As a one-third shareholder, SCF was not in a position to control DHL, and the other shareholders remained committed investors.

"We have been talking to some of our people on our farms who have wanted to know what it has all meant for them, and we have been able to explain it to them and very much put their minds at ease.

"So the main message is while one of our shareholders, who owns a 33 per cent stake, has fallen on difficult times, the other shareholders continue to maintain their long-term, positive view of dairy industry," Mr Glass said.

While DHL had grown rapidly up until 2005, it had chosen to consolidate since then and had not taken in the "dairy bubble" during the past two or three years, Mr Glass said.

"When the global financial crisis emerged, we were quick to become aware of downstream effects on international milk prices and moved very early to get our house in order, so we could withstand the new environment."

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