State Farmer Delivers Solid Half-Year Result
State farmer Landcorp, trading as Pamu, is a forecasting a full-year net profit of around $100 million.
The state farmer’s latest result of $8 million for the half-year ended 31 December, 2020, shows its return on assets – managing 117 farms, 84 of which they own – makes it a terrible business for both the country and taxpayers.
However, a recent brilliant suggestion from North Otago farmer Grant Ludeman would kill two birds with the one stone.
He suggests that the Government order Pamu to completely destock all its farms and plant them in natives – making a huge contribution to decarbonising the country and meeting the CCC’s aim for a 15% reduction in NZ’s livestock numbers – as well as ridding the taxpayer of a poorly performing state business. Win, win!
