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

 

Farmlands signals strong result

October 5 2005

Farmlands signals strong result on a $2-million bonus rebate

Rural retail co-operative Farmlands has signaled an exceptionally good year today returning an extra $2 million to its shareholders.

Farmlands Chief Executive John Newland said sales had been strong across the three main sectors of the business – retail, the company’s charge card service, Farmacard, and fertiliser.

The company’s annual result would be announced next week when increased productivity would further demonstrate the solid position Farmlands holds in New Zealand’s rural service industry, Mr Newland said

“Farmlands’ advantage is that we are consistent and understood by our shareholders and customers in a market where there has been plenty of uncertainty,” he said.

It is pleasing to again return a rebate to shareholder while continuing to grow the company and its market share through ongoing expansion strategies, Mr Newland said.

The bonus rebate is Farmlands way of rewarding shareholders for their loyalty, along with their ongoing investment in the company. Individual payments are based on the amount shareholders have spent at Farmlands during the year which will see some shareholders receiving more than $3000.

Farmlands has paid out more than $15 million in bonus rebates in 12 of the last 13 years.

The company’s 2005 annual result will be announced on October 11.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>