Team effort behind new ryegrass cultivar to future-proof pastoral farming
It takes a team approach to produce a new cultivar of ryegrass, match-fit to meet the future challenges of pastoral farming.
PGG Wrightson has raised its full year forecast despite challenging conditions in some sectors.
PGG Wrightson chief executive Mark Dewdney says PGG Wrightson (PGW) expects its full year earnings before tax in the $65 to $68 million range, up from the previous guidance of $61 to $67 million indicated in April.
Dewdney says its New Zealand earnings continue to exceed expectations. A strong autumn sales season in New Zealand underpins this earnings performance, and shows the resilience of PGW in spite of the challenging conditions being experienced in some agri-sectors.
The company now expects its retail business will improve on last year's record Operating EBITDA. "This will be a fantastic achievement given the cautious spending from our dairy clients over the year. This will be a result of the positive momentum we have sustained with customers and staff, and in part our exposure to sectors that have had a strong year, such as horticulture and beef."
He says the operating EBITDA for the year to June 30 will reflect two opposing forces.
"On the one hand tougher market conditions, particularly in the New Zealand dairy sector and in South America; on the other, the hard work we are putting into improving and growing PGW continues to pay off and we are benefiting from our market position in the agri-sectors that have been performing strongly."
PGW expects to announce its full year results on August 9 with details of the announcement to be confirmed closer to the time.
Commercial fruit and vegetable growers are being encouraged to cast their votes in the Horticulture New Zealand (HortNZ) board directors' election.
A unique discovery by a Palmerston North science company, Biolumic, looks set to revolutionise the value and potential of ryegrass and the secret is the application of ultraviolet (UV) light.
A New Zealand company is redefining the global collagen game by turning New Zealand sheepskin into a world-class health product.
With further extreme weather on the way, ANZ Bank is encouraging farmers and business owners impacted by the recent extreme weather and flooding to seek support if they need it.
New Zealand must continue to educate Chinese consumers about the unique qualities of its red meat products and how they differ from competitors, says Silver Fern Farms chief executive Dan Boulton.
There are opportunities outside the farmgate for young farmers to further develop their skills, says 2025 Primary Industries Emerging Leader Award winner Bridie Virbickas.
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