State farmer posts record results
State farmer Pamu has delivered its strongest operating result on record.
Of course, it is not just your normal annual report, which shows that, again, Landcorp is a dog of an investment for the country's taxpayers.
Instead, the state-owned farmer produces an 'integrated' annual report.
This translates - in layman's (sorry person's) language - to mean that they talked with a whole of lot of people (mainly their own directors, employees and suppliers - i.e.: people it pays) and got them to say just how wonderful Pāmu is.
The report also shows that outgoing chief executive Steven Carden was paid more than $3.65 million in salary during the past five years, and last year 165 of its staff earned over $100k.
Imagine if Pāmu actually made a half decent return on investment.
