LIC ends year with $30.6m profit
Herd improvement company LIC has ended the 2024-25 financial year in a strong position - debt-free and almost quadrupling its net profit.
A Farmlands shareholder is questioning the rural trader’s decision to more than double its annual card fee.
The shareholder, who wishes to remain anonymous, told Rural News that shareholders shouldn’t have to pay “a high amount of money just to get a card”
In an email to shareholders this week, Farmlands announced that starting from February, its card fee will rise to $65 plus GST per card. The current card fee is $28.75 plus GST.
Farmlands pointed out to shareholders that it is the first increase in five years.
“We have held off a fee increase for as long as we could.”
But one shareholder isn’t convinced.
“As we had to pay to belong to Farmlands Society, we don’t think we should have to pay a high amount of money just to get a card,” the shareholder says.
“When we rang Farmlands, we were told we had to have a card to have an account.”
In a statement to Rural News, Farmlands general manager of marketing Daniel Herd noted that Farmlands has charged an annual fee for a long-time and reiterated that this is the first increase to the fee in five years.
“We have held off any increase for as long as we could, while costs of managing and administering our services have gone up.
“The majority of our shareholders save hundreds, if not thousands, of dollars each year in rebates and discounts in our stores and from our Card Partners.
“The fee increase can be offset by the savings made on less than a tank of diesel per month or one visit to Card Partners such as Noel Leeming or Mitre 10.
“We’re committed to helping Farmlands Card users get even more value from their card.”
Herd says they’ve just released a new version of our Farmlands Card app – where it’s easy to find the nearest card partner and see transaction and account information.
“We’re also working to provide more shopping options – with the likes of Briscoes, Noel Leeming, and VetPost now accepting Farmlands Card online.”
According to the most recent Rabobank Rural Confidence Survey, farmer confidence has inched higher, reaching its second highest reading in the last decade.
From 1 October, new livestock movement restrictions will be introduced in parts of Central Otago dealing with infected possums spreading bovine TB to livestock.
Phoebe Scherer, a technical manager from the Bay of Plenty, has won the 2025 Young Grower of the Year national title.
The Fencing Contractors Association of New Zealand (FCANZ) celebrated the best of the best at the 2025 Fencing Industry Awards, providing the opportunity to honour both rising talent and industry stalwarts.
Award-winning boutique cheese company, Cranky Goat Ltd has gone into voluntary liquidation.
As an independent review of the National Pest Management Plan for TB finds the goal of complete eradication by 2055 is still valide, feedback is being sought on how to finish the job.
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