Incoming SFF chair's vision for the future
Incoming Silver Fern Farms chair and King Country farmer Anna Nelson wants the future of farming and rural communities to be thriving, healthy and happy.
Meat processor and exporter Silver Fern Farms Ltd has joined fellow South Island-based meat company Alliance Group in reporting a big loss for the past year.
SFF released its full-year results to Dec 31, 2023, last week, reporting a $24.4 million loss – with revenue down nearly $500m to $2.78 billion.
It compares to 2022’s net profit of $189.3m with revenue of $3.27b. Meanwhile, Silver Fern Farms Co-operative, which jointly owns Silver Fern Farms Ltd with Chineseowned Shanghai Maling Aquarius, also posted a loss of $10.7m over the 12-month period.
Neither the main company nor the co-op will pay a dividend for the year. Silver Fern Farms is NZ’s largest meat processor, killing sheep, beef and venison at 14 plants nationwide.
It blames the loss mainly on red meat prices, particularly lamb – which has been under significant pressure – due to a weak market in China and Australian product flooding markets.
SFF chair Rob Hewett said “depressed” consumer confidence across its key markets had pressured its customers, the operating company, and “ultimately, returns for our farmer suppliers.”
Hewett added that while it was disappointing not to be in a position to pay dividend this year, he is confident in the company’s ability to recover when market conditions become more favourable.
Alliance Group reported a loss of just over $70m in its financial year to Sept 30, 2023.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
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