AgResearch continues its contribution to Agriculture

6 October 2011

AgResearch continues its significant contribution to New Zealand agriculture during period of change

AgResearch released its Annual Report today announcing a successful year delivering science outputs to the New Zealand agriculture sector, whilst undergoing substantial change as it developed its new strategy, encompassed CRI reforms and closer alignment to key industry stakeholders.

"The last twelve months have been characterised by immense change for AgResearch", said Chair Sam Robinson.

"The impact of CRI reforms on AgResearch and the pastoral sector is overwhelmingly positive, providing clarity of purpose and emphasising the need for AgResearch to move closer to the sector. This shift will inform our ongoing strategy and the science we undertake. During the year FRST and MoRST merged to form a new entity, the Ministry of Science & Innovation (MSI). This change has consolidated ownership, funding and monitoring functions, and has provided further clarity in our dealings with the Crown"

Dr Tom Richardson, Chief Executive at AgResearch is also positive about changes in the AgResearch operating model and said this has been a pivotal year for the business - "governments adoption of the highly regarded CRI taskforce recommendations created an opportunity for all CRI's, and their owners (government) and the sectors we support, to review how we work together to deliver the best possible returns on the investments made in us. We are well on the road to doing this. We have also continued to deliver great science by contributing to improved productivity and profitability in our sector"

"Financially it's also been a good year for us, with a modest surplus achieved, which will be reinvested into science for the benefit of the sector"

Dr Richardson said a recurring theme throughout the current period of change, both accomplished and looking forward, is our focus on the power of collaboration and partnership in delivering value to the sector. All of this means that AgResearch is well-positioned to make an ever greater contribution to New Zealand, as we have described in our new strategy.

ANNUAL REPORT
http://www.agresearch.co.nz/publications/annualreport/docs/financials-2010-2011.pdf

ANNUAL REPORT Highlights
http://www.agresearch.co.nz/publications/annualreport/docs/highlights-2010-2011.pdf

ends

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