Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Crop & Food Research declares dividend

Crop & Food Research declares dividend

Crop & Food Research is declaring a special dividend of $3 million which will be directed to the government's Venture Investment Fund.

The 2001-02 annual report of the independent, government-owned company also shows a net profit of $944,000 for the year. Non-Crown funded revenue grew by 12.8% although Crown-funded revenue remained constant.

Crop & Food Research Board Chairman, Peter Allport, said the company was pleased to see the expansion of a venture capital market in New Zealand.

"It is satisfying to record that the shareholder value of Crop & Food Research increased by around 90% over the last ten years, enabling $3 million of this value to be reinvested by our shareholders in the Venture Investment Fund."

There had also been significant reinvestment into science capability, infrastructure and equipment for the public good.

Efforts to commercialise selected intellectual property had resulted in seven new commercialisation entities, he said.

CEO Paul Tocker said substantial funds had also been re-invested in two new strategic science initiatives, one in functional molecules and one in seafood. "We are determined to build our intellectual property contribution to revenue to equal benchmarked world best practice," he said.

Over the last 10 years total revenue had grown by 23% for the Group and 61% in private sector revenue.

"We anticipate that, in the next 10 years, the Institute's performance will show a substantial increase in the rate of growth. Much of the revenue growth will come from the contribution from intellectual property," he said.

Crop & Food Research provides research, technology and services to support the development of high quality, commercially successful products, particularly from grain, vegetable and flower crops and from seafood.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>


Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>


CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>


Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>


Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>