LIC ends year with $30.6m profit
Herd improvement company LIC has ended the 2024-25 financial year in a strong position - debt-free and almost quadrupling its net profit.
Former LIC boss Mark Dewdney is the new chief executive of PGG Wrightson (PGW).
Dewdney, who left LIC earlier this year, starts on July 1. He replaces George Gould, who recently stepped down as managing director.
PGW chairman, Sir John Anderson says Dewdney brings impressive qualifications for leading an agricultural business such as PGW.
"We are pleased to have him join the company. In addition to his record of success at LIC, he has spent years in leadership positions in New Zealand and Asia at global dairy giant Fonterra Group.
"His experience is hands-on as well, through his ownership of dairy farms in both New Zealand and Australia."
Kiwis love their butter, and that's great because New Zealand produces some of the best butter in the world. But when the price of butter goes up, it's tough for some, particularly when many other grocery staples have also gone up and the heat goes on co-operative Fonterra, the country's main butter maker. Here the co-op explains why butter prices are so high right now.
DairyNZ chair Tracy Brown has waded into the debate around soaring butter prices, pointing out that the demand for dairy overseas dictates the price to farmers and at the supermarket.
Farmers are welcoming new Government proposals to make farm health and safety rules more practical and grounded in real-world farming.
Missing fresh mozzarella cheese made at home in Bari, southern Italy, Massimo Lubisco and his wife Marina decided to bring a taste of home to New Zealand.
An A$2 billion bid for Fonterra's Oceania business would be great news, according to Forsyth Barr senior analyst, equities, Matt Montgomerie.
Irish meat processor Dawn Meats is set to acquire a 70% stake in Alliance Group, according to a report in The Irish Times.