Farmlands returns to profit with strong FY25 result
Rural retailer Farmlands has reported a return to profitability, something the co-operative says shows clear progress in the second year of its five-year strategy.
New Zealand’s largest rural supplies and services cooperative was presented with the award at a ceremony hosted by KPMG in Auckland this morning.
Farmlands joins 13 other winners of the award world-wide, including Singapore Airlines (Australia), Apple Store (Italy), Alipay (China) and Emirates (UAE).
Following Farmlands in the top five for New Zealand were Air New Zealand, Kiwibank, New World and ASB Bank.
Farmlands chief executive, Peter Reidie, says receiving the accolade is a vote of confidence in the power of the cooperative business model, with a significant portion of Farmlands customers are Farmlands shareholders. He says ongoing loyalty creates its own virtuous circle of benefits.
“The more Farmlands shareholders choose to shop with us, the bigger our ability to create advantage for both them and the cooperative they own,” he says. “As a co-operative, we are a family – shareholders, staff and suppliers. We work hard to make sure all our shareholders feel valued – after all, they are the reason our business exists in the first place.”
