Friday, 20 July 2018 12:04

$14m earnings boost for state farmer

Written by 
Steven Carden. Steven Carden.

State-owned Landcorp Faming Limited (Pamu) is expecting a $14 million boost in full-year revenues on the back of higher-than-expected milk and meat prices.

The country’s largest farmer says allocation of additional carbon units (NZU) following the five yearly audit by MPI of the company’s forestry assets will also help lift earnings.

The company says its earnings before interest, taxes, depreciation, amortisation and revaluations (EBITDAR) forecast for the 2017-18 financial year will be between $47 - $52 million, up from the previous advice at the time it released its half-year result (between $33 and $38 million).

 Landcorp chief executive Steven Carden says it is pleasing “that we are likely to produce a better than forecast full year result”. 

“The company has had a real focus on controlling costs and maximising on farm returns, while not compromising our commitment to excellent land and animal management.

“This reforecast is particularly pleasing in what has been a challenging year from a climatic perspective.”

Carden says the company will announce its audited full year result in late August.

More like this

State farmer cultivates talent with apprenticeship scheme

To mark International Day of Education on January 24, 2025, state farmer Pāmu (Landcorp) announced the commencement of its Apprenticeship Scheme, designed to equip the next generation of farmers with the skills, knowledge, and experience needed for a thriving career in agriculture.

Barks like a dog

OPINION: Landcorp is putting a brave face on its latest result, highlighting its progress on KPIs like climate change and gender pay gaps.

State farmer opens pathway to ownership for more Kiwis

In a landmark move, the state-owned farmer Pāmu (Landcorp) is making four of its 44 dairy farms available for people wishing to take up various contracts including herd-owning, share milking, variable order share milking and contract milking.

Will silver turn to gold for state farmer?

Tucked away in a remote part of the central North Island, staff at a Pāmu (Landcorp) farm are working hard to solve one of the biggest challenges facing the dairy and beef sectors.

Featured

Farmers will adapt amid global trade turmoil

New tariffs imposed by President Donald Trump signal an uncertain future, but New Zealand farmers know how to adapt to changing conditions, says Auriga Martin, chief executive of Farm Focus.

National

Machinery & Products

Alpego eyes electric power harrow

Distributed by OriginAg in New Zealand, Italian manufacturer Alpego recently showed its three metre Alysium electric power harrow at the…

» Latest Print Issues Online

The Hound

Dodgy!

OPINION: If you believe Maori Party president John Tamihere’s claim that “nothing dodgy” occurred at Manurewa Marae during the last…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter