Ravensdown Returns to Profit, Approves $15/Tonne Shareholder Rebate
Ravensdown has reported a net profit before tax and rebate of $50.1 million for the year ended 31 May 2026.
The partnership will see the beloved characters created by Murray Ball - including Dog and Wal - woven into Ravensdown's marketing and advertising.
The collaboration is set to spotlight the realities of the modern Kiwi farmer through the wit and warmth of Footrot Flats characters.
Garry Diack, chief executive of Ravensdown, says the partnership was a natural decision for a co-operative created just one year after Murray Ball first drew Dog and Wal.
“Footrot Flats is woven into the fabric of rural and urban culture in this country. Generations of farmers have laughed at themselves in Murray’s characters,” says Diack.
“Ravensdown supports those farmers - their work, their land, and their future. Bringing these two icons together made sense. It acknowledges that while technology may advance, the heart of farming remains the same.”
“What makes Footrot Flats timeless is its good humour and its innate understanding of rural life. Those values still ring true today. If Dog and Wal can help us tell our stories - and raise a few smiles along the way - then we’re all the better for it.”
The collaboration has the support of Murray Ball’s family.
Diack says the connection between the two groups was evident from their very first conversation over a cup of tea in rural New Zealand.
“It was important that we honour Murray’s legacy correctly. In our discussions with the family, they recognised that Ravensdown is made from farming families.
“They understood that we don't see these cartoons as just jokes, but as reflections of the people and places Murray cared about. To have the family's support to bring these characters back to the farming community and inject some joy into daily life is a privilege.”
The iconic Dog will be visible across Ravensdown brand and marketing material in the coming weeks, with a broader rollout of content planned for 2026.
“We’ve all grown up together - Ravensdown, Footrot Flats, and rural New Zealand,” adds Diack. “This partnership is a chance to celebrate that shared history while looking ahead to the next generation of Kiwi farming.”
