Pāmu Braces for $30m Hit From Rising Farm Costs
State farmer Pāmu is bracing for a $30 million hit from soaring farm input costs this financial year.
According to chief executive Mark Leslie, Annabel Davies is joining Pāmu to help with its "ambitious environmental programme... to meet the challenges of a changing climate, and societal and shareholder expectations of us in these vital areas for our company and our country".
Pāmu's ongoing wokeness journey - rather than just farming - is highlighted in its latest annual returns.
Its net 'profit' of $59 million (up from $29m in 2021) looks heavily inflated due to a $18m book value gain from historical revaluation losses on land and buildings, as well as a $20m fair value gain on biological assets.
