Friday, 25 February 2022 11:25

Good half year

Written by Staff Reporters

font size decrease font size increase font size
Print
Email

Landcorp's farming division has announced a net profit after tax of $41 million for the half-year ended December 2021.

The state farmer’s earnings before interest, tax, depreciation, amortisation and revaluations (EBITDAR) was $16 million— compared with $14 million in the half-year to December 2020.

Chairman Warren Parker says the result is particularly gratifying as the company managed the ongoing impact of Covid.

“Covid has continued to disrupt our people, which on top of ongoing labour shortages, extreme weather events on the West Coast and in the Manawatu and logistics, processing and availability of farm supplies, has made for a challenging half year,” Parker adds.

Landcorp Farming (Pāmu) says it is currently forecasting a full-year EBITDAR of between $83m and $88m, compared to its original budget of $73m, with the strong milk price a key driver of this increase.

More like this

Pāmu FY26 Report: Profit More Than Doubles to $113m

Pāmu has released its FY26 Integrated Annual Report, reporting a Net Operating Profit of $113 million, more than double the $49 million recorded in FY25.

Pāmu and Meet the Need Launch Mince Recipe Cards for Food Banks

A partnership between state-owned enterprise Pāmu (Landcorp Farming Limited) and charity Meet the Need is putting more than quality New Zealand beef into food bank parcels this year.

State farmer posts record results

State farmer Pamu has delivered its strongest operating result on record.

$10m Boost for Govt Coffers From Pāmu

State farmer Pāmu (Landcorp) has announced it will pay a $10 million special dividend to the Crown off the back of a strong outlook for the business and a capital repayment of $9.5 million following Fonterra's consumer business sale.

Government appoints three new directors to Pāmu board

The Government has appointed three new members to the board of state farmer Landcorp Farming Ltd, trading as Pāmu.

Featured

Ballance Welcomes National's Policy on Securing Fertiliser Supply Contracts

Farmer-owned fertiliser company, Ballance Agri Nutrients is welcoming National’s plan to negotiate security agreements with key supplier countries to protect New Zealand-bound products from export restrictions and greater supply chain certainty.

Carrfields Appoints Stu Hall as Chief Operating Officer

Carrfields has announced the appointment of Stu Hall to the newly created role of chief operating officer, Carrfields Ltd, reflecting the continued growth of their agribusinesses and the need to ensure the company has the leadership capacity and support in place as it pursues the emerging opportunities ahead.

NZ Apple Growers Ready to Share Expertise in India

New Zealand's role is not to compete with Indian growers, according to NZ Apples and Pears.

James Blair Named 2026 Young Grower of the Year

The potato industry is celebrating the success of two rising stars - James Blair, the 2026 Young Grower of the Year and runner-up and innovation award winner, Amber Davy.

Rabobank Launches HortPathways for Emerging Hort Leaders

Twenty-eight emerging leaders from across the horticulture sector spent two days last month learning valuable skills and connecting with industry experts.

Young Horticulturist of the Year: Meet the Five Finalists

There are five entrants in this year’s Young Horticulturist of the Year, competing in a series of technical, practical, business and leadership challenges.