Well-placed to weather conflicts
Shipping disruption caused by Houthi rebels in the Red Sea has so far not impacted fertiliser prices or supply on farm.
Ravensdown has recorded a strong profit for the 2019-20 financial year.
The fertiliser cooperative received a profit before tax, bonus share issue and rebate of $69 million, compared to $52 million in the 2018-19 financial year.
It says it will be returning a total of $68 million to its eligible farmer shareholders.
The co-op says it is confident in its financial strength and cautiously optimistic in the face of uncertainty around Covid-19 and emerging government policy.
Ravensdown Chairman John Henderson. |
In addition to a previous non-cash bonus share distribution in March of $40 million, including imputation credits and a further rebate of $25 per tonne of fertiliser purchased in 2019-20, Ravensdown says it was able to increase spending on its physical infrastructure to $28 million and repeat its 2018-19 spend on R&D ($5 million).
Reduced inventory and strong cashflows throughout lockdown meant that Ravensdown finished the financial year with no net debt and an operating cashflow of $143 million, versus $31 million in 2018-19.
It's been a bumper season for maize and other supplements in the eastern Bay of Plenty.
Leading farmers from around New Zealand connected to share environmental stories and inspiration and build relationships at the Dairy Environment Leaders (DEL) national forum in Wellington last month.
AgriZeroNZ, a joint venture fast-tracking emissions reduction tools for farmers, is pouring $5 million in a biotech company to develop a low emissions farm pasture with increased productivity gains.
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Te Awamutu dairy farmers Doug, Penny, Josh and Bayley Storey have planted more than 25,000 native trees on the family farm, adding to a generations-old native forest.
OPINION: The Government's recent announcement that methane targets will be reviewed is bringing relief to farmers.