Halter raises $165m, company valued at $1.65b
New Zealand tech company Halter has raised $165 million from investors in its latest fundraising round.
PGG Wrightson (PGW) chief executive Stephen Guerin says that while there are positive signals within the market, there are also challenges.
Last month, the rural retailer released its half-year results, revealing that the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 13% and net profit after tax (NPAT) jumped up 25%.
The result improves upon the 2024 full-year result released in July which saw NPAT drop to $3.1 million and EBIDTA drop by 17%.
Guerin says that there have been some significant highs for the company in the past six months.
“For us, it’s playing out in a couple of ways,” he told Rural News. He says that in the past six months, PGW’s real estate arm has sold several farm properties valued at over $10 million.
This, Guerin says, shows that farmers are seeing different opportunities available to them. “We’re working our way through some changes in our livestock saleyard footprint. We’ve sold two saleyards in that regard so that’s contributed to our cash.”
Guerin says that the current higher commodity prices – like with the rising farmgate milk price – are improving optimism across the sector.
Commercial fruit and vegetable growers are being encouraged to cast their votes in the Horticulture New Zealand (HortNZ) board directors' election.
A unique discovery by a Palmerston North science company, Biolumic, looks set to revolutionise the value and potential of ryegrass and the secret is the application of ultraviolet (UV) light.
A New Zealand company is redefining the global collagen game by turning New Zealand sheepskin into a world-class health product.
With further extreme weather on the way, ANZ Bank is encouraging farmers and business owners impacted by the recent extreme weather and flooding to seek support if they need it.
New Zealand must continue to educate Chinese consumers about the unique qualities of its red meat products and how they differ from competitors, says Silver Fern Farms chief executive Dan Boulton.
There are opportunities outside the farmgate for young farmers to further develop their skills, says 2025 Primary Industries Emerging Leader Award winner Bridie Virbickas.
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