Friday, 29 May 2020 13:58

ANZCO makes a $30m profit

Written by  Staff Reporters
Peter Conley. Peter Conley.

Meat company ANZCO Foods recorded its best-ever revenue of $1.7b and a net profit before tax of $30.6m for the year ended 31 December 2019.

“In 2019 we made record payments to farmers for the second year in a row ensuring the benefits of higher market prices have been shared across the value chain,” says chief executive Peter Conley. 

“We regularly measure payments to farmers for sheep and beef, and we have consistently paid premium prices when benchmarked with the wider industry.” Conley says market diversification was an important strategy for the company in 2019, with the business focusing on expanding its beef, lamb and healthcare products in a range of markets including New Zealand, Japan, the UK, Europe, North America, and China. 

“As the year progressed, global demand for New Zealand beef and lamb products continued to improve which provided a sustained period of higher market returns. 

“Despite the risks of volatility and the emergence of trade-related conflicts in global markets, red meat pricing increased steadily during the year, with China standing out as a significant market for both beef and lamb products.” 

Conley added that the company continued to offer a diversified portfolio of meat, value-add and healthcare products, with Japan, the UK, Europe and North America all remaining integral to balancing market options. 

The company says its $11m investment in automation in 2018 at its Rangitikei lamb processing operation had delivered significant gains in 2019. 

Chairman Sam Misonou says Anzco continues to contribute to the communities in which it operates through wages, salaries, supplier payments and sponsorships. 

“ANZCO Foods’ shareholder, Itoham Yonekyu Holdings (IYH), and board remain very supportive of the business and its overall direction and performance.”

IYH is the nineth largest global meat company.

“We will continue to work closely to expand ANZCO Foods’ expertise in food products, as well as capitalising on benefits from IYH’s experience and global networks,” Misonou says. 

 

More like this

ANZCO Foods' net profit plunges

Meat processor ANZCO Foods’ net profit has plunged on the back of lower market returns which squeezed margins and impacted business performance.

Long, complex process

The depopulation and repopulation of ANZCO Food’s Five Star Beef feedlot, as part of the M. bovis eradication programme, was a long and complex project, says ANZCO CEO Peter Conley.

ANZCO return good result

Meat processor ANZCO Foods has reported an annual turnover for 2022 of $1.90b - compared with $1.64b for 2021 - and net profit before tax of $147.7m (2021 $75m) for the 2022 financial year.

Featured

Taupiri Farmers Chase Ownership After Awards Success

For Taupiri dairy farmers Logan and Sian Dawson, their involvement in the NZ Dairy Industry Awards has been a key catalyst in the growth of their business - the experience helping shape how they approach the farm ownership pathway they are pursuing today.

Ballance Urges Farmers to Plan Ahead for El Niño

With forecasters advising El Niño conditions will develop through winter and strengthen into spring and summer, Ballance Agri-Nutrients is encouraging farmers and growers to think ahead about nutrient planning and be prepared to work around challenging weather conditions.

National

Machinery & Products

» Latest Print Issues Online

The Hound

'LinkedIn Greens'

OPINION: The same mainstream media muppets that brought you Jacindamania in 2017 have been flat out pimping for the Opportunities…

UK Warning

OPINION: Your old mate reckons the atrocious way farmers in the UK are treated by their lords and masters in…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter