fbpx
Print this page
Wednesday, 08 May 2024 15:55

Wrong, again!

Written by  The Hound
Wrong, again!

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

Wrong focus

OPINION: Your old mate reckons townie Brooke van Velden, the Minister of Workplace (or is it Woke Place) Relations is now showing how underemployed she is as a minister by initiating an investigation into whether young children should be banned from collecting eggs on farms and feeding animals.

Strong growth for Yili's NZ operations

Chinese dairy giant Yili Group says its New Zealand operations are on track for strong revenue growth in 2025 after recording significant year-on-year growth for the first half of the year.

Burn the village

OPINION: There's an infamous term coined by a US general during the Vietnam war, specifically in reference to the battle of Ben Tre: "We had to burn the village to save it."

Popular Reads

Featured

National

Machinery & Products