PGG Wrightson declares dividend as profits surge 248%
Agricultural support giant PGG Wrightson will pay a dividend this year on the back of an improved performance buoyed by increased optimism in the sector.
PGG Wrightson (PGW) chief executive Stephen Guerin says that while there are positive signals within the market, there are also challenges.
Last month, the rural retailer released its half-year results, revealing that the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 13% and net profit after tax (NPAT) jumped up 25%.
The result improves upon the 2024 full-year result released in July which saw NPAT drop to $3.1 million and EBIDTA drop by 17%.
Guerin says that there have been some significant highs for the company in the past six months.
“For us, it’s playing out in a couple of ways,” he told Rural News. He says that in the past six months, PGW’s real estate arm has sold several farm properties valued at over $10 million.
This, Guerin says, shows that farmers are seeing different opportunities available to them. “We’re working our way through some changes in our livestock saleyard footprint. We’ve sold two saleyards in that regard so that’s contributed to our cash.”
Guerin says that the current higher commodity prices – like with the rising farmgate milk price – are improving optimism across the sector.
Thus far in 2025, the Hawke's Bay rescue helicopter crew have completed over 220 missions, resulting in numerous positive patient outcomes.
The New Zealand Food Network's (NZFN) fifth birthday celebrations have been boosted by a whopping five tonne meat donation from meat processor ANZCO.
Pukekohe vegetable growers farewelled 101-year-old Alan Wilcox in late July, celebrating his many achievements and reflecting the widespread respect in which he was held.
A new nationwide survey shows New Zealanders expect farmers and food producers to play a leading role in cutting greenhouse gas emissions, but also gave them higher marks than most industries for their current efforts.
North Otago farmer Jane Smith is standing for the Ravensdown South Island director seat.
The Government and horticulture sector have unveiled a new roadmap with an aim to double horticulture farmgate returns by 2035.