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Steven Carden.
State-owned Landcorp Faming Limited (Pamu) is expecting a $14 million boost in full-year revenues on the back of higher-than-expected milk and meat prices.
The country’s largest farmer says allocation of additional carbon units (NZU) following the five yearly audit by MPI of the company’s forestry assets will also help lift earnings.
The company says its earnings before interest, taxes, depreciation, amortisation and revaluations (EBITDAR) forecast for the 2017-18 financial year will be between $47 - $52 million, up from the previous advice at the time it released its half-year result (between $33 and $38 million).
Landcorp chief executive Steven Carden says it is pleasing “that we are likely to produce a better than forecast full year result”.
“The company has had a real focus on controlling costs and maximising on farm returns, while not compromising our commitment to excellent land and animal management.
“This reforecast is particularly pleasing in what has been a challenging year from a climatic perspective.”
Carden says the company will announce its audited full year result in late August.
State farmer Pāmu (Landcorp) has announced it will pay a $10 million special dividend to the Crown off the back of a strong outlook for the business and a capital repayment of $9.5 million following Fonterra's consumer business sale.
The Government has appointed three new members to the board of state farmer Landcorp Farming Ltd, trading as Pāmu.
The Government’s directive for state farmer Landcorp Farming (trading as Pamu) to lifts its performance is yielding results.
To mark International Day of Education on January 24, 2025, state farmer Pāmu (Landcorp) announced the commencement of its Apprenticeship Scheme, designed to equip the next generation of farmers with the skills, knowledge, and experience needed for a thriving career in agriculture.
OPINION: Landcorp is putting a brave face on its latest result, highlighting its progress on KPIs like climate change and gender pay gaps.
New research suggests sheep and beef farmers could improve both profitability and emissions efficiency by increasing lamb weaning weights, with only marginal changes in total greenhouse gas emissions.
With six months until the election, Federated Farmers says the Government is running out of time to deliver its long-promised reform to the country's freshwater system.
Herd improvement company LIC has entered the Indonesian market.
Two forestry companies have been sentenced for road failures that led to the death of Coromandel truck driver Greg Stevens.
The situation in the Middle East has been a major influence on markets over recent months and the market for key farm inputs continues to move at pace, with pricing and availability shifting quickly across several key products, according to a major stockfood seller.
Rural Women New Zealand (RWNZ) has signed on to a formal complaint filed with the United Nations requesting an investigation into whether the government's changes to New Zealand's pay equity laws amounts to systemic discrimination against women.
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