Pamu and LIC to launch Synergizer
The first calves of a new crossbred dairy-beef offering are now on the ground at a Pamu (Landcorp) farm near Taupo.
State farmer Pāmu (Landcorp Farming Limited) has made a net profit after tax of $68 million for the half-year ended December 31, 2019.
The result is $39m better than the previous year’s net profit of $29m.
However, Pamu says the coronavirus could throw a spanner in the works in the second half.
Pāmu chief executive Steven Carden says the result was pleasing but cautioned that the second half was throwing up some uncertainty related to the impact of the coronavirus and climate conditions.
“We are pleased with our half-year result, the result of positive trading conditions and a focus on operating performance at Pāmu.
“Our EBITDAR (earnings before interest, tax, depreciation, amortisation and revaluations) for the half-year, which is our preferred measure of performance, saw a gain of $22 million compared to a loss of $3 million in the half-year to December 2018, which is very solid,” he says.
Pāmu is currently forecasting a full-year EBITDAR of between $73m and $78m however the impact of the Coronavirus outbreak and very dry climatic conditions in the north, may see it revise this as the second half of the financial year progresses.
The company has diversified its income sources in recent years and will continue to implement programs that mitigate the impact of climate change and biosecurity risks, says Carden.
“Our strategy has focused on increasing the resilience of our pastoral farming operations through farm system innovation. We have also moved to shift to land uses tied to forestry and horticulture. This strategy is helping to both improve profitability and lower the environmental impact of our operations.
“As important as our financial result has been the progress made in improving our health and safety performance, lowering our environmental impact through a range of initiatives, and improving the conditions of the animals in our care,” Carden said.
Like many manufacturers around the world, European agricultural machinery and tractor manufacturers are currently operating in a difficult market environment. But they are heading to the world’s largest agricultural machinery event in Hanover next month with a degree of cautious optimism.
Established in 2021, the John Deere Technician of the Year Awards champion the important contribution parts and service technicians make to the Australian and New Zealand agriculture, construction and forestry industries.
Beef + Lamb New Zealand (B+LNZ) is calling on farmers from all regions to take part in the final season of the Sheep Poo Study aiming to build a clearer picture of how facial eczema (FE) affects farms across New Zealand.
New Zealand is closer to eradicating bovine TB than ever before, but possums remain a threat, says Beef + Lamb New Zealand.
Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.
The ACT Party says media reports that global dairy giant Nestle has withdrawn from the Dairy Methane Action Alliance shows why New Zealand needs to rethink its approach to climate.
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