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

 

Ballance FY18 result up 25% to $71m


26 July 2018 – New Zealand’s leading farm nutrient supplier, Ballance Agri-Nutrients, today announced a 25% lift in the Co-operative’s gross trading result to $71.3 million – reflecting current strength across much of the rural sector.

Ballance Chairman, David Peacocke, says the positive financial performance in the year-ended 31 May 2018 allowed for a farmer rebate of $45 per tonne – along with bolstering the balance sheet for future re-investment for the benefits of farmers.

The rebate, to be paid on 27 July, will average about $4,500 for an average shareholder, with individual payments of more than $100,000 to the largest farming interests. The return to shareholders of more than $56 million, represents 81% of pre-tax profit.

Total sales for the year – including nutrient products, animal feeds and industrial ingredients – were up nearly 1.5% to 1.64 million tonnes. The higher volume, together with a continuation of the growing demand for premium nutrient products that offer improved environmental performance, was reflected in a 2.6% increase in revenue to $826 million.

Mr Peacocke says the Co-operative enjoyed another very strong year – reflecting the positive sentiment among farmers and growers – “but we are very aware of the increasing competition in the New Zealand fertiliser market, and the need to increase our agility.”

He says Ballance is already gearing up for the future with investment in supply chain and manufacturing efficiencies “for the benefit of shareholders, customers and the local communities supplying the goods, labour and services for the projects throughout the country”.

Projects completed during FY2018 – such as a new Consignment Store in Waimate, and new expanded Ashburton Service Centre – were focused on improving service levels, load-out times and product availability through Ballance’s national distribution network. In another industry-first, Ballance has successfully piloted new self-service silos that offer greater convenience for customers.

“Our infrastructure investment is all linked to our focus on a smarter supply chain that will deliver higher service levels and greater choice and ease for our farmers.”

Chief Executive, Mark Wynne, says another priority is accelerating digital services for customers to support the future competitiveness of New Zealand farming.

The MyBallance platform launched as a free offering to Ballance shareholders in the second half of the financial year already has more than a quarter of all active shareholders registered, so that they can see and manage their nutrient planning, ordering and records online.

“This is about being a forward-focused business – giving our farmers flexibility and using our digital capability to knit everything together seamlessly from specialist advice to sustainable and accurate placement of nutrients on-farm.”

Mr Wynne says the success of MyBallance with farmers is in turning raw data into useful information that means Ballance customers can really have their “farms at their fingertips”. MyBallance also received global recognition during the year winning the Best Run Award at the prestigious international SAP Innovation Awards 2018.

Specialist new tools like MITAGATOR® – developed in partnership with Government through the Primary Growth Partnership – harness the best New Zealand science so that farmers know where to invest for the biggest environmental gains, while the MyBallance platform means customers can order online 24/7.

Mr Wynne says demand will continue to lift for smarter products and services, such as Ballance’s SPREADSMART® which supports precise aerial applications of fertiliser and pilot safety. Applications using this technology were up three-fold compared with FY2017. This growing demand is being met with more capacity delivered through new Air Tractors that offer improved productivity and are part of the Co-operative’s aircraft refurbishment programme.

The Mid-Canterbury community also recently welcomed the confirmation of a $5 million rebuild of the SealesWinslow plant in Ashburton after a major fire in December.

“This will deliver efficiencies – with robotic packing and bagging – and safety improvements, along with greater capacity to produce premium New Zealand-made animal feed to meet demand for locally-made high-performing compound feeds,” he says.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Energy Sector: Meridian Spilled Water To Hike Electricity Prices - Authority Ruling

The Electricity Authority has found that generator Meridian Energy manipulated the power market, costing consumers about $80 million. More>>

ALSO:

XE Data Update: RBNZ Official Cash Rate Decision

The RBNZ will keep the Official Cash Rate (OCR) at 0.25%. T he key points in the RBNZ statement are: RBNZ keeps the OCR unchanged at 0.25% Maintain the LSAP (large scale asset purchase) at NZD$60 billion. Committee prepared to use additional monetary ... More>>

ALSO:

Electricity: Kiwis Ignore Promise Of Cheaper Power

Electric Kiwi and Flick Electric Co are joint winners of Canstar Blue’s award for Most Satisfied Customers | Electricity Providers From putting on an extra layer – rather than turning on a heater – to turning off lights and choosing the energy-saving ... More>>

ALSO:

Economy: COVID-19 Contributes To 1.6 Percent Fall In March Quarter GDP

Gross domestic product (GDP) fell 1.6 percent in the March 2020 quarter, the largest drop in 29 years, as the initial effects of COVID-19 restrictions impacted on economic activity, Stats NZ said today. This quarter’s GDP results showed a widespread drop ... More>>

ALSO:


Electricity: Transmission Pricing For A Low Carbon Future

The Electricity Authority has decided on new guidelines for transmission pricing. James Stevenson-Wallace, Chief Executive of the Electricity Authority says the new guidelines will deliver significant benefits to consumers, through lower electricity ... More>>

ALSO:

ASB: Investor Confidence Falls To Four-Year Low

As the world grapples with the fallout from the most significant pandemic the world has seen in a century, economic concerns are weighing on investors, dragging investor confidence down to a four-year low in the first quarter of the year. For the three ... More>>

ALSO:

Science Media Centre: Funding For R&D In New Zealand – Expert Reaction

Research, Science and Innovation Minister Dr Megan Woods has today announced $401.3 million funding for research and development through Budget 2020 and the COVID Response and Recovery Fund. The fund includes $150 million for an R&D loan scheme, ... More>>

ALSO:


Science: 2019 Prime Minister’s Science Prizes Announced

The 2019 Prime Minister’s Science Prizes have been announced in a digital livestream event today. The Prizes recognise the impact of science on New Zealanders’ lives, celebrate the achievements of current scientists and encourage scientists of the ... More>>

ALSO:


RNZ: Fuel, Alcohol Costs To Go Up From Today

The increase today in the taxes on fuel, road user charges and alcohol is being called a tone-deaf move. More>>

ALSO:

Stardome Observatory: Young Kiwi Astro-Photographer Shoots For The Stars

Matariki by Josh Kirkley. The stars are aligning for up-and-coming Auckland-based astro-photographer Josh Kirkley (Kāi Tahu). During lockdown, one of his images was picked up by NASA and shared on the space agency’s Instagram to its 59.2 million ... More>>


DCANZ: Time For EU To Commit To A Level Playing Field For Trade

The Dairy Companies Association of New Zealand (DCANZ) has welcomed New Zealand Trade Minister David Parker’s statement that it is unacceptable for New Zealand exporters to continue facing an ‘unlevel playing field’ in the EU. Details leaked ... More>>

ALSO:

Potatoes New Zealand: Protecting NZ Fries As Part Of PNZ Pandemic Recovery & Transformation Plan

Potatoes New Zealand has met with Minister Faafoi this week to discuss investigating the potential importation of heavily discounted frozen potato chips into New Zealand. With MBIE’s support we are undertaking an investigation to gather evidence of the ... More>>

ALSO:


New Zealand Government: Supporting Kiwi Businesses To Resolve Rent Disputes

The Government will legislate to ensure businesses that suffered as a result of the COVID-19 response will get help to resolve disputes over commercial rent issues, Justice Minister Andrew Little announced today. More>>

ALSO:


Science Media Centre: Understanding 5G Concerns – Expert Q&A


Recent attacks on cell phone towers have brought concerns over the rollout of 5G technology into sharp relief.
While scientific research has consistently shown that the technology does not adversely affect human health, public concerns about its impact have spread around the world, fueled in part by growing misinformation online. The SMC asked experts to comment... More>>

ALSO:


Trade: Record Monthly Surplus As Imports Dive

Imports in April 2020 had their biggest fall since October 2009, resulting in a monthly trade surplus of $1.3 billion, Stats NZ said today. “This is the largest monthly trade surplus on record and the annual goods trade deficit is the lowest ... More>>

ALSO: