increase font size
Your canine crusader notes that the woke folk at Landcorp – sorry Pāmu – were recently crowing about recording a net profit after tax of $68 million for the half-year ended 31 December 2019.
While this may look good on the surface, your old mate reckons it is not as flash as it seems. Actually, in real terms, the result for the half-year was a gain of $22 million.
However, once you strip away the $7m the state farmer slashed in costs and a one-off gain of $6m from the sale of its shares in Westland Dairy – then it is more like $13 million.
However, when you consider Landcorp’s total asset base is $2.16 billion – then it is a very poor return for taxpayers.
This further begs the question just how chief executive Steven Carden can justify an annual salary of $795,950 when his organisation’s return is so poor and why taxpayers are still lumbered with carrying this dog?
OPINION: Nearly half of New Zealand's four million dairy calves are processed early, representing not just a missed $1.2 billion opportunity, but a reputational risk for our export-driven agricultural sector.
One of Fonterra's largest milk suppliers says Fonterra's board and management have got what they wanted - a great turnout and a positive signal from shareholders on the sale of its co-operative's consumer and related business.
The first calves of a new crossbred dairy-beef offering are now on the ground at a Pamu (Landcorp) farm near Taupo.
State farmer Pāmu (Landcorp) has announced a new equity partnership in an effort to support pathways to farm ownership for livestock farm operators.
The Government has appointed three new members to the board of state farmer Landcorp Farming Ltd, trading as Pāmu.
Next month, wool training will reach one of New Zealand's most remote communities, the Chatham Islands - bringing hands-on skills and industry connection to locals eager to step into the wool harvesting sector.
Farmers' health and wellbeing will take centre stage with a new hub at the 2026 East Coast Farming Expo.
Dannevirke farmer Dan Billing has been announced as the new national chair of Beef + Lamb New Zealand's (B+LNZ) Farmer Council.
A Mid Canterbury beef farm has unlocked a new market for its products thanks to its unusual beef breed, and an award-winning pie taking the district by storm.
The number of beef straws going into dairy cows is on the increase, according to LIC beef genetics product lead Paul Charteris.
OPINION: Farmers along the east coast of both islands are being urged to start planning for drought as recent nor'west winds have left soil moisture levels depleted.
OPINION: Winston Peters has described the decision to sell its brand to Lactalis and disperse the profit to its farmer…
OPINION: The Hound reckons a big problem with focusing too much on the wrong goal - reducing livestock emissions at…
