Tuesday, 05 June 2018 12:10

ANZCO's profit plunge

Written by 
Peter Conley. Peter Conley.

ANZCO Foods Ltd has reported a pre-tax profit of $1.8 million for the year ended December 31, 2017 — 90% lower than the previous year.

ANZCO reported $17m the year before.

“Revenue at $1.46 billion was consistent with the previous year. This result reflects a tough year in beef processing, which comprises about 60% of ANZCO Foods’ business,” said chief executive Peter Conley. 

The privately owned Christchurch company’s assets include New Zealand’s only large-scale commercial feedlot, on the coast at Wakanui, near Ashburton. 

The company says growth of the Wakanui brand supported its differentiated beef strategy in NZ, Asia and other markets, including the first shipments to China with the opening of that market for chilled NZ beef and lamb. 

ANZCO Foods is now a 100% subsidiary of Itoham Yonekyu Holdings, a global top-10 meat company, following a shareholding change in 2017.

More like this

Rural schools receive over $100,000

Rural primary schools have received more than $109,000 from ANZCO Foods as part of the company’s Sponsor a School Programme, with several recipients located in the South Island.

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

Dairy sheep and goat turmoil

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

Hurry up and slow down!

OPINION: We have good friends from way back who had lived in one of our major cities for many years.

Editorial: Passage to India

OPINION: Even before the National-led coalition came into power, India was very much at the fore of its trade agenda.

National

Knowing bugs means fewer drugs

A mastitis management company claims to deliver the fastest and most accurate mastitis testing available at scale for New Zealand…

Machinery & Products

100 years of Farmall Tractors

Returning after an enforced break, the Wheat and Wheels Rally will take place on the Lauriston -Barhill Road, North-East of…

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.

» Latest Print Issues Online

The Hound

Why?

OPINION: A mate of yours truly wants to know why the beef schedule differential is now more than 45-50 cents…

Fat to cut

OPINION: Your canine crusader understands that MPI were recently in front of the Parliamentary Primary Sector Select Committee for an…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter