Pāmu FY26 Report: Profit More Than Doubles to $113m
Pāmu has released its FY26 Integrated Annual Report, reporting a Net Operating Profit of $113 million, more than double the $49 million recorded in FY25.
This has again been evidenced by a review carried out last March by James Morrison Consulting - and sneakily released over the Xmas break following an OIA request.
The damning review criticises Landcorp's failure to meet financial forecasts, its high corporate costs and its investments in unprofitable off-farm ventures.
"Landcorp should be seeking excellence in pastoral farming," the report states. "However, the evidence indicates that Landcorp is not an excellent farmer yet."
Ouch! As the Hound has said many times before in regard to the state farmer and its continuing poor performance, if it walks like a duck and quacks like a duck, then chances are it is actually a duck!
