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

 


PGG Wrightson CFO Rob Woodgate quits

PGG Wrightson CFO Rob Woodgate quits

By Suze Metherell

Sept. 4 (BusinessDesk) - Rob Woodgate has resigned as chief financial officer at PGG Wrightson, the rural services firm controlled by China’s Agria Corp.

Woodgate will leave in November after more than five years, the majority of which was as chief financial officer, the Christchuch-based company said in a statement. The company said Woodgate is leaving to pursue other career options which it didn't detail, and it has yet to find a replacement.

"Rob joined PGW in April 2009 and stepped into a business considerably different to the one we have today," said chief executive Mark Dewdney. "Over this period he has worked closely with the board and management and been central to reshaping the financial position and strategy of the business. He has been part of a significant turnaround in fortunes for PGW."

Last month PGW said operating earnings before interest, tax, depreciation and amortisation was $58.7 million in the 12 months ended June 30, beating the guidance it gave in June and exceeding the $57 million forecast by Forsyth Barr. At the time the company refrained from giving guidance for the current year, saying it will wait until its annual meeting in October, given the volatility in dairy prices and the potential impact on customers. Still, it said the outlook for its core sheep, beef, arable, horticulture and viticulture markets “is positive” and the company plans to “put more emphasis on the dairy, water and agronomy sectors in New Zealand.”

Shares of PGW fell 1.2 percent to 40 cents and have gained 3.5 percent since the start of the year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news