Wednesday, 12 March 2025 07:55

Positive signals but challenges remain

Written by  Jessica Marshall
PGG Wrightson chief executive Stephen Guerin says the company has experienced significant highs in the past six months. PGG Wrightson chief executive Stephen Guerin says the company has experienced significant highs in the past six months.

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.

More like this

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.

Featured

NZ household food waste falls again

Kiwis are wasting less of their food than they were two years ago, and this has been enough to push New Zealand’s total household food waste bill lower, the 2025 Rabobank KiwiHarvest Food Waste survey has found.

Editorial: No joking matter

OPINION: Sir Lockwood Smith has clearly and succinctly defined what academic freedom is all about, the boundaries around it and the responsibility that goes with this privilege.

DairyNZ plantain trials cut nitrate leaching by 26%

DairyNZ says its plantain programme continues to deliver promising results, with new data confirming that modest levels of plantain in pastures reduce nitrogen leaching, offering farmers a practical, science-backed tool to meet environmental goals.

National

Machinery & Products

Tech might take time

Agritech Unleashed – a one-day event held recently at Mystery Creek, near Hamilton – focused on technology as an ‘enabler’…

John Deere acquires GUSS Automation

John Deere has announced the full acquisition of GUSS Automation, LLC, a globally recognised leader in supervised high-value crop autonomy,…

Fencing excellence celebrated

The Fencing Contractors Association of New Zealand (FCANZ) celebrated the best of the best at the 2025 Fencing Industry Awards,…

» Latest Print Issues Online

The Hound

A step too far

OPINION: For years, the ironically named Dr Mike Joy has used his position at Victoria University to wage an activist-style…

Save us from SAFE

OPINION: A mate of yours truly has had an absolute gutsful of the activist group SAFE.

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter