Farmlands returns to profit with strong FY25 result
Rural retailer Farmlands has reported a return to profitability, something the co-operative says shows clear progress in the second year of its five-year strategy.
Board chair Rob Hewett says he welcomes the return of both Baldwin and Sangster.
“I'm pleased to retain the experience and wisdom of both Dawn and Gray. Throughout their tenure, they have demonstrated their ability to work as a valuable part of the Board team to guide Farmlands. As the co-op continues to innovate and deliver more value to shareholders, this leadership will be crucial to the co-op continuing to improve the ways they support the productivity and prosperity of New Zealand's farmers and growers.”
Sangster and Baldwin were chosen from a pool of six candidates for the two available positions.
Farmlands says its board was pleased with the overall quality of all the 2024 candidates, who showcased a strong commitment to and involvement in the agri-sector.
Voting concluded on Thursday 27 June with Sangster receiving the highest number of votes and Baldwin the second-highest, both securing another three-year term.
Sangster, based in Central Otago, is a director and farmer of her family business, Glenayr Ltd, a 2,650ha enterprise with three sheep and beef properties. Over her 30-year farming career, she has held numerous governance roles, including serving on the board of meat company Alliance Group since 2012, being a past trustee of the John McGlashan College Board, and a former member of the Beef + Lamb NZ Farmer Council.
Sangster thanked everyone who took the time to vote in the election, saying “It’s a difficult time for farmers at the moment with low commodity prices, high interest rates and challenging weather conditions in many parts of the country. This is why it is important that Farmlands remains focused on reducing input prices to help support profitability and productivity on-farm. I’d also like to thank all the Farmlands team - many of whom are shareholders - for the work they do every day supporting our farmers.”
Baldwin expressed his gratitude for the trust placed in him by the co-op. “I want to thank my fellow shareholders for their confidence in me to continue being part of the Farmlands governance team during these challenging and transformative times. It’s a privilege to serve on this board.”
Baldwin and his wife manage a 707ha property near Lichfield in South Waikato, where they milk 850 cows on an all-autumn calving system. Their property also includes substantial areas of maize and forestry land. Baldwin's career began in rural banking and the fertiliser industry before he moved into senior management and executive roles at BNZ Agri, Carter Holt Harvey, and Summit Quinphos, where he was chief executive. His previous co-op governance roles include nine years with Ballance and ten years with LIC.
