Friday, 25 February 2022 11:25

Good half year

Written by  Staff Reporters
Landcorp's farming division has announced a net profit after tax of $41 million for the half-year ended December 2021. Landcorp's farming division has announced a net profit after tax of $41 million for the half-year ended December 2021.

Landcorp's farming division has announced a net profit after tax of $41 million for the half-year ended December 2021.

The state farmer’s earnings before interest, tax, depreciation, amortisation and revaluations (EBITDAR) was $16 million— compared with $14 million in the half-year to December 2020.

Chairman Warren Parker says the result is particularly gratifying as the company managed the ongoing impact of Covid.

“Covid has continued to disrupt our people, which on top of ongoing labour shortages, extreme weather events on the West Coast and in the Manawatu and logistics, processing and availability of farm supplies, has made for a challenging half year,” Parker adds.

Landcorp Farming (Pāmu) says it is currently forecasting a full-year EBITDAR of between $83m and $88m, compared to its original budget of $73m, with the strong milk price a key driver of this increase.

More like this

Deer milk wins global award

Deer milk made by state-owned farmer Pāmu has won the ‘Best Dairy Ingredient’ category at the prestigious World Dairy Innovation Awards.

Appropriate!

OPINION: A mate of your canine crusader cheekily suggests a recent ministerial visit - crowed about by state farmer Landcorp's (or Pāmu as it likes to be known) public relations department - was highly symbolic.

Woof, woof!

OPINION: This old mutt has been pointing out forever just what a dog with fleas - as both a business model and a return on capital investment - state farmer Landcorp is.

Pāmu and Westpac ink ‘green’ loan

Westpac NZ and Pāmu claim they have signed New Zealand’s most comprehensive Sustainability-Linked Loan to date, also the largest in the agricultural sector, and the first involving a state-owned enterprise.

National

AWDT chair steps down

Agri-Women’s Development Trust (AWDT) chair Linda Cooper has stepped down after three years serving the charitable trust.

Machinery & Products

Making life easier

Many temporary sheep fencing systems can be troublesome, with reels jamming or breaking and the bugbear of silly hooks on…

Valtra's following grows

With the release of its N5 and T5 series of tractors, Valtra continues to expand its presence in the Australia-New…

» The RNG Weather Report

» Latest Print Issues Online

The Hound

No free ride!

OPINION: This old mutt is getting somewhat tired of multi-national, tax-dodging, fund-raising group Greenpeace always given front and centre mainstream…

How come?

OPINION: A mate of yours truly is questioning exactly why the Māori ag sector have been given special budget funding by…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter