Wednesday, 04 December 2024 09:55

Barks like a dog

Written by The Hound

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OPINION: Landcorp is putting a brave face on its latest result, highlighting its progress on KPIs like climate change and gender pay gaps.

Your old mate was more interested in how much they added to the Crown accounts.

As Landcorp says in its 2024 report, it manages "nearly 360,000ha over 112 farms across the motu".

That's a $2 billion asset base, on which Landcorp returned a $20m net operating profit (NOP).

However, times have been tough, with falling product prices hitting revenue and earnings, and they made a $26m net loss after tax.

For comparisons sake, that's 39% lower than the $33m NOP of the prior year, where they lost a mere $9m after tax - on a $2b asset base.

Surely, that's the KPI that's going to matter most to a cash-strapped government?

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