Ruralco bounces back with $1.25m profit in 2025
Farm supplies trader Ruralco has recovered from two consecutive years of losses to post a $1.25 million profit for the 2025 financial year.
Paton, a long-time Ruralco shareholder, saw off a challenge from two other candidates - Mid Canterbury farmers, Richard Fitzgerald and Cole Groves. Sitting director Rhea Booker was re-elected for another term.
Paton is appreciative of those who voted for him and thanked the other candidates for standing and helping to create “a real buzz” around the election process.
“I’m looking forward to helping build on the positive result announced today and growing the business in the coming years.”
He says the board is made of up of talented directors and he is looking forward to working with them.
This year’s director election saw a 50% increase on voter returns compared to previous elections in 2021 and 2022.
Ruralco chair Sir David Carter says he’s thrilled that shareholders took such an active part in the vote.
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“It was very pleasing to see such a high calibre of candidates wanting to join the Ruralco board, which is a vote of confidence in what we are doing, and another indicator of the increased support we are seeing from our shareholders,” says Carter.
Booker, a Mid Canterbury chartered accountant, is also in equity partnership of a small dry stock farm and calf rearing operation with her husband James. She has been on the board since 2022 and is the current chair of the audit and risk committee.
