Wednesday, 08 May 2024 15:55

Wrong, again!

Written by The Hound

font size decrease font size increase font size
Print
Email

OPINION: This old mutt well remembers the wailing, whining and gnashing of teeth by former West Coast MP and Labour Agriculture Minister Damian O’Connor when Chineseowned Yili took over the troubled dairy company Westland Milk a few years back.

O’Connor claimed it would be end of the world and West Coast dairy farmers would be the losers.

However, it seems – like his election result last October – the only loser in this case is O’Connor.

The company recently notched up its second impressive annual result in a row, with a 43.7% lift in net profit to $55.9 million in 2023.

It was also above 2022’s $38.9m record-breaking result and a $120m rebound from 2021.

Since Yili bought the once troubled company in 2019, former shareholder farmers have not only had record profits but also received a cash payment of $3.41 a share and a 10-year guaranteed competitive milk payout.

More like this

Dark ages

OPINION: Before we all let The Green Party have at it with their 'bold' emissions reduction plan, the Hound thought it wise to run the numbers through the old Casio.

Rhymes with?

OPINION: The Feds' latest banking survey shows that bankers are even less popular with farmers than they used to be, despite falling interest rates, and the report still paints a damning picture of rural lending.

Waste not

OPINION: Judith Collins, Minister for Science, Innovation and Technology, has upset the more woke members of the science community by announcing a regulation change to narrow the scope of the $83.5 million/year Marsden Fund.

Middle finger

OPINION: Kainga Ora's decision to categorically rule out use of woollen carpets in social housing is a total slap in the face for struggling Kiwi sheep farmers.

Loud noises!

OPINION: One of the strongest arguments for Act’s Treaty Principles Bill is probably its opponents’ total inability to raise a calm, cogent retort to it, other than intimidation and shouting the other side into silence.

Featured

FMG launches 'Under Pressure' campaign

As New Zealand enters the summer months, rural insurer FMG is reminding farmers and growers to take extra care with a new campaign.

Stay safe over summer - St John

Hato Hone St John is urging Kiwis to have a safe summer this year.

Silt Recovery Taskforce wins national award

Hawke’s Bay’s Silt Recovery Taskforce has received the Collaboration Excellence Award at the Association of Local Government Information Management (ALGIM) Awards.

New UHT plant construction starts

Construction is underway at Fonterra’s new UHT cream plant at Edendale, Southland following a groundbreaking ceremony recently.

Animal owners urged to make a list, check it twice

The New Zealand Veterinary Association (NZVA) has launched a new summer checklist for animal owners this year.

Irrigation scheme delivers on water quality, environment

The Amuri Basin Future Farming (ABFF) Project in North Canterbury is making considerable strides in improving irrigation efficiency, riparian management, and environmental innovation.