Pāmu FY26 Report: Profit More Than Doubles to $113m

The state-owned enterprise, described as New Zealand's largest farming business, paid a $25 million dividend to its shareholder and delivered a total shareholder return of 11.4 percent for the year, a measure the company says reflects both financial performance and broader value creation.

Strategic Priorities

The report outlines progress across a range of strategic priorities, including climate adaptation, Farm Environment Plans, workforce development, technology adoption and innovation partnerships.

Pāmu said these priorities reflect the findings of a recent materiality assessment, which identified the value the company provides in testing, demonstrating and sharing new farming approaches that benefit the wider sector, beyond its own operations.

"Spillover Benefits" for the Wider Sector

Pāmu Chief Executive Mark Leslie said stakeholders recognised the role Pāmu can play in helping the broader primary sector address shared challenges and opportunities.

"As a state-owned enterprise, we have an opportunity to create spillover benefits that extend well beyond our own farms," Leslie said.

The report cites technology partnerships, genetics programmes, environmental initiatives and other innovations as examples of work aimed at improving productivity, sustainability and resilience across New Zealand agriculture.

The result marks a significant improvement in profitability year-on-year, though the report frames the outcome as more than a financial story — pointing to Pāmu's dual role as a commercial farming business and a state-owned entity expected to generate wider benefits for the sector, including in environmental practice and innovation.