Friday, 29 May 2020 13:58

ANZCO makes a $30m profit

Written by  Staff Reporters
Peter Conley. Peter Conley.

Meat company ANZCO Foods recorded its best-ever revenue of $1.7b and a net profit before tax of $30.6m for the year ended 31 December 2019.

“In 2019 we made record payments to farmers for the second year in a row ensuring the benefits of higher market prices have been shared across the value chain,” says chief executive Peter Conley. 

“We regularly measure payments to farmers for sheep and beef, and we have consistently paid premium prices when benchmarked with the wider industry.” Conley says market diversification was an important strategy for the company in 2019, with the business focusing on expanding its beef, lamb and healthcare products in a range of markets including New Zealand, Japan, the UK, Europe, North America, and China. 

“As the year progressed, global demand for New Zealand beef and lamb products continued to improve which provided a sustained period of higher market returns. 

“Despite the risks of volatility and the emergence of trade-related conflicts in global markets, red meat pricing increased steadily during the year, with China standing out as a significant market for both beef and lamb products.” 

Conley added that the company continued to offer a diversified portfolio of meat, value-add and healthcare products, with Japan, the UK, Europe and North America all remaining integral to balancing market options. 

The company says its $11m investment in automation in 2018 at its Rangitikei lamb processing operation had delivered significant gains in 2019. 

Chairman Sam Misonou says Anzco continues to contribute to the communities in which it operates through wages, salaries, supplier payments and sponsorships. 

“ANZCO Foods’ shareholder, Itoham Yonekyu Holdings (IYH), and board remain very supportive of the business and its overall direction and performance.”

IYH is the nineth largest global meat company.

“We will continue to work closely to expand ANZCO Foods’ expertise in food products, as well as capitalising on benefits from IYH’s experience and global networks,” Misonou says. 

 

More like this

ANZCO return good result

Meat processor ANZCO Foods has reported an annual turnover for 2022 of $1.90b - compared with $1.64b for 2021 - and net profit before tax of $147.7m (2021 $75m) for the 2022 financial year.

50 GHG workshops in 30 days

Beef + Lamb New Zealand (B+LNZ) has joined forces with Silver Fern Farms, Alliance, Greenlea Premier Meats, ANZCO and Deer Industry New Zealand (DINZ) to deliver 50 Greenhouse Gas workshops over the course of 30 days.

ANZCO posts record profit

Meat processor and exporter ANZCO Foods has joined other NZ agri-sector businesses and reported a record net profit of $75m for the 2021 year.

Featured

Govt urged to reduce ETS units

The Climate Change Commission wants the new Government to reduce NZ Emissions Trading Scheme (ETS) auction volumes as son as possible.

Dairy sheep, goat woes mount

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.

Alliance's Pure South cuts win gold

Meat co-operative Alliance Group has bagged four gold medals at the Outstanding NZ Food Producer Awards, achieving top honours for every cut entered.

Dairy demand on the rise

There is increasing evidence that dairy demand is on the upswing, according to Rabobank senior agricultural analyst Emma Higgins.

Fert use tumbles as prices spike

Fertiliser use in New Zealand over the 18 months is about 25% down from what it consistently was for the previous decade or more, says Ravensdown chief operating officer Mike Whitty.

National

Machinery & Products

JD unveils its latest beast

John Deere has unveiled its most powerful tractor ever, with the launch of the all new 9RX Series Tractor line-up…

Biggest Quadtrac coming to NZ!

In the biggest announcement that Case IH Australia/New Zealand has made around its tractor range, its biggest tractor is about…

A different shade of blue for Norwood

Norwood and ARGO Tractors, the Italian manufacturer of Landini and McCormick tractors, have announced an agreement that gives Norwood exclusive…

Kubota tests diesel engines

Kubota last month used the UK LAMMA Show to test the water with its new 200hp, four-cylinder 09-series diesel engines.

Claas rings up some big numbers

The Claas Group finished fiscal year 2023 with a substantial leap in sales that reflected the high demand for agricultural…

» Latest Print Issues Online

The Hound

Too late?

OPINION: Your canine crusader reckons moves by the new government to try and breathe new life into the country's ailing…

Going rogue!

OPINION: This old mutt suggests the new government is going to have to move fast to rein in a number…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter