Go woke!
OPINION: The Hound reckons the powers at Landcorp (or as they/them like to call themselves, Pāmu) are coming under the microscope with the new government in place.
Landcorp, no longer threatened with sales of some of its farms, has reported an after-tax profit of $51.9 million for the year to August 31.
Electioneering National had proposed selling some farms but Labour wouldn’t hear of it.
Its 2017 annual report shows asset values rose to $1.81 billion in 2016-17, an increase of $27.9m on 2015-16. Debt fell from $219.6m to $206.9m.
Recently re-branded as Pāmu Farms of New Zealand, the company’s chief executive Steve Carden says the 2017 result is very pleasing and reflects higher returns from milk, beef and venison.
“As we enter the halfway point of the financial year our business is tracking well. However, any downward pressure in commodity prices as we head into 2018 will impact our result.”
Carden says the company has focused on cutting debt and reinvesting in the business recently as part of its overall strategy. Ongoing solid trading conditions indicate another profitable year ahead, he says.
“Pāmu is looking at how we can enhance shareholder value, not just by being a price-taker at the farmgate, but by adding value right along the food chain.
“Agriculture needs to be changing and evolving in what it produces in response to consumer demand,” said.
“Whether partnering with Spring Sheep Milk Co to offer a unique product range, or providing high quality wool to NZ Merino for the innovative brands they work with... Pāmu is always looking at ways to drive value and innovation.”
Carden says the company is going from strength to strength and the last few years of intensive refocusing is now bearing fruit.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
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